A persistent rise in the general level of prices implies?
ECONOMICS
JAMB 2000
A persistent rise in the general level of prices implies?
- A. an increase in some prices
- B. a one-time rise in prices
- C. a steady fall in the purchasing power of money
- D. that the higher the price level, the more the value of money
Correct Answer: C. a steady fall in the purchasing power of money
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