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WAEC Economics 2008 Question 37

Question 37

Money and Inflation

The indicator of the value of money is

  1. A.the general price level
  2. B.the equilibrium price
  3. C.consumers' income
  4. D.the interest rate.
Show the answer and explanation

Answer: A (the general price level)

Explanation

The value of money is its purchasing power, which is measured against the general price level.