Devaluation can result from government action or an economic crisis.In August 1998, the Russian economy imploded.As a result all of the following listed events happened except:
A)the ruble plunged in value.
B)the government defaulted on on its foreign debt obligation.
C)many Russians faced wage cuts and layoffs.
D)Russia's economy did not recover from the impact.
E)savings were wiped out as banks collapsed.

Question

Quizplus · Accepted Answer

The question states that Russia's economy "imploded" in August 1998 as a result of an economic crisis. Therefore, it can be assumed that the economy did not recover from the impact. Therefore, all of the other events listed (A, B, C, and E) are true, but not (D).

Devaluation Can Result from Government Action or an Economic Crisis