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JAMB and WAEC Economics questions: Money and inflation

34 questions with answers and explanations. Tap an option to check yourself.

AllJAMBWAEC
All topicsAgriculture in Nigeria · 30Business organisations · 29Economic growth and development · 30Economic systems · 28Economics as a science · 30Factors of production · 28Financial institutions · 30Industry and industrialisation · 30International economic organisations · 29International trade · 32Market structures · 31Methods and tools of economic analysis · 29Money and inflation · 34National income · 36Natural resources and the Nigerian economy · 30Population · 30Public finance · 31The labour market · 31Theory of consumer behaviour · 30Theory of costs and revenue · 33Theory of demand · 43Theory of price determination · 30Theory of production · 29Theory of supply · 32

  1. Question 21· Money and inflation· JAMB

    A persistent fall in the general price level is called

    Explanation and discussion

  2. Question 22· Money and inflation· JAMB

    Stagflation is a situation of

    Explanation and discussion

  3. Question 23· Money and inflation· WAEC

    Inflation caused by rising wages and raw-material prices is

    Explanation and discussion

  4. Question 24· Money and inflation· WAEC

    The most important function of money is as a

    Explanation and discussion

  5. Question 25· Money and inflation· WAEC

    The quantity theory of money states that MV = PT. If V and T are constant, an increase in M raises

    Explanation and discussion

  6. Question 26· Money and inflation· WAEC

    A persistent fall in the general price level is

    Explanation and discussion

  7. Question 27· Money and inflation· WAEC

    A price index rises from 120 to 150. Find the rate of inflation.

    Explanation and discussion

  8. Question 28· Money and inflation· JAMB

    The motives for holding money, according to Keynes, are transactions, precautionary and

    Explanation and discussion

  9. Question 29· Money and inflation· WAEC

    Money held to meet unforeseen emergencies is demanded for the

    Explanation and discussion

  10. Question 30· Money and inflation· JAMB

    According to the quantity theory of money (MV = PT), if the money supply doubles while V and T remain constant, the price level will

    Explanation and discussion

  11. Question 31· Money and inflation· JAMB

    The real value of money falls when

    Explanation and discussion

  12. Question 32· Money and inflation· WAEC

    People on fixed incomes suffer during inflation because

    Explanation and discussion

  13. Question 33· Money and inflation· WAEC

    Cost-push inflation results from

    Explanation and discussion

  14. Question 34· Money and inflation· JAMB

    The main motive for holding money to buy everyday goods is the

    Explanation and discussion

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