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JAMB Economics 2002 Question 19

Question 19

Money and Inflation

Creeping inflation implies that there is a

  1. A.gentle and persistent increase in the general price level
  2. B.rapid and persistent increase in the general price level
  3. C.gentle but not permanent increase in the general price level
  4. D.rapid but not permanent increase in the general price level
Show the answer and explanation

Answer: A (gentle and persistent increase in the general price level)

Explanation

Creeping inflation is a slow, mild but continuing rise in the general price level.