The government of Beryllia tightly controls the ability of its residents to convert its currency into other currencies.However,all foreign businesses with deposits in banks of Beryllia may,at any time,convert all their currency into foreign currency and take them out of the country.Beryllia's currency is said to be

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The fact that foreign businesses can convert the currency into foreign currency and take them out of the country means that Beryllia's currency is externally convertible. It is not freely convertible because the government tightly controls the ability of its residents to convert its currency into other currencies, and it is not nonconvertible because foreign businesses can convert their deposits. Therefore, the best choice is C.

The Government of Beryllia Tightly Controls the Ability of Its