The high rate of inflation in Nigeria can be attributed to
ECONOMICS
JAMB 2008
The high rate of inflation in Nigeria can be attributed to
- A. increasing cost of production
- B. the appreciation of the naira
- C. decreasing cost of production
- D. high capacity utilization
Correct Answer: A. increasing cost of production
Explanation
Increase in the cost of production would lead to a rise in prices. And this has been a major cause of inflation in Nigeria, as plenty money would be used to purchase very few goods
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