Which of the following is true about the value of money?
ECONOMICS
JAMB 1998
Which of the following is true about the value of money?
- A. it varies inversely with the price level
- B. it varies directly with the price level
- C. it depreciates in the period of deflation
- D. it is not affected by the price level
Correct Answer: A. it varies inversely with the price level
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