Money and Inflation - Jamb Economics Past Questions and Answers

Question 96:

• JAMB 2021

The value of money depends primarily on ____________

A. The gold backing of the currency
B. The general price level
C. Government decree that it is legal tender
D. None of the above

Question 97:

• JAMB 2021

Inflation is likely to benefit ____________

A. Debtors
B. Persons with back savings
C. Creditors
D. Persons who lived on fixed pension funds