An indication that there is inflation in a country is that
ENGLISH
WAEC 2023
An indication that there is inflation in a country is that
- A. there is a decrease in the demand for goods and services
- B. there are too many goods in circulation
- C. the same amount of money buys lower quantity of goods
- D. people prefer to lend than to borrow
Correct Answer: C. the same amount of money buys lower quantity of goods
Explanation
An indication that there is inflation in a country is that the same amount of money buys lower quantity of goods. Inflation is a general increase in prices and a decrease in the purchasing value of money. This means that the same amount of money can buy fewer goods and services.
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