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if the current price of an apple is twice that of last year, it implies...

Economics
WAEC 2011

if the current price of an apple is twice that of last year, it implies that the value of money is

  • A. stable
  • B. falling
  • C. rising
  • D. getting stronger
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Correct Answer: Option B
Explanation

If the price of the apple was 100 in year 1, and by year 2 it increased to 200. It means the value of the money is falling. The value of money is determined by how much goods it can buy. 

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