A currency is said to be externally convertible when:
A)the country's government allows both residents and nonresidents to purchase unlimited amounts of a foreign currency with it.
B)only nonresidents may convert it into a foreign currency without any limitations.
C)neither residents nor nonresidents are allowed to convert it into a foreign currency.
D)only residents may convert it internally into a foreign currency.

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The Answer of A currency is said to be externally convertible when:
A)the country's government allows both residents and nonresidents to purchase unlimited amounts of a foreign currency with it.
B)only nonresidents may convert it into a foreign currency without any limitations.
C)neither residents nor nonresidents are allowed to convert it into a foreign currency.
D)only residents may convert it internally into a foreign currency.

A Currency Is Said to Be Externally Convertible When