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WAEC Economics 2014 Question 33

Question 33

Money and Inflation

Which of the following best defines inflation?

  1. A.Cyclical increase in prices
  2. B.Periodic increase in prices
  3. C.Persistent increase in prices
  4. D.Occasional increase in prices.
Show the answer and explanation

Answer: C (Persistent increase in prices)

Explanation

Inflation is a persistent rise in the general price level.