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UI Post-UTME Economics 2021 (Model questions) Question 2

Question 2

Money and Inflation

The common index for measuring inflation in an economy is......

  1. A.wholesale price
  2. B.consumer price
  3. C.retail price
  4. D.producer price
Show the answer and explanation

Answer: B (consumer price)

Explanation

Inflation is usually measured with the Consumer Price Index (CPI).