Economics (AS & A Level) · May / June 2024 · Paper 11 · Question 28

The table shows the number of Turkish lira (TRY) which can be exchanged for one US dollar (USD) in 2016 and 2021. | date | exchange rate | | July 2016 | 1 USD = 2.83 TRY | | July 2021 | 1 USD = 8.15 TRY | What is the most likely cause of the change in the price of Turkish lira between 2016 and 2021?

1. Aa sustained fall in the demand for Turkish imports
2. Ba sustained fall in Turkish government debt as a percentage of GDP
3. Ca sustained rise in Turkish interest rates
4. Da sustained rise in Turkish inflation

As printed in the paper