Concept:Devaluation is a deliberate lowering of a currency’s value, which makes exports cheaper and imports more expensive.
Explanation:When a currency is devalued, the cost of imported goods increases.
This import cost increase encourages consumers to buy local products, which helps expand local industries.
Exports also become cheaper and more competitive abroad.
However, devaluation raises the cost of living and tends to lower the standard of living, not increase it.
So the increase in standard of living is not a true effect of devaluation.
Answer:Increase in standard of living.