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JAMB Economics 1995 Question 39

Question 39

Money and Inflation

The best method to curb inflation in Nigeria is to

  1. A.reduce importation of commodities
  2. B.increase the general level of production
  3. C.reduce the volume of money supply
  4. D.set up price control boards.
Show the answer and explanation

Answer: B (increase the general level of production)

Explanation

Nigeria's inflation is largely caused by shortage of goods, so raising domestic output is the lasting cure.