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WAEC Economics 2007 Question 29

Question 29

Money and Inflation

The value of money is generally measured in relation to the

  1. A.interest rate charged on bank loans
  2. B.general price level
  3. C.size of a country's gold stock
  4. D.volume of imports.
Show the answer and explanation

Answer: B (general price level)

Explanation

The value of money is what it can buy, which falls as the general price level rises.