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The purchasing power of money depends upon the__________

Economics
JAMB 2019

The purchasing power of money depends upon the__________

  • A. Value
  • B. Index
  • C. Price Level
  • D. Wages
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Correct Answer: Option C
Explanation

The purchasing power of money depends upon the price level when the price leve rises, the purchasing power of money gets reduced, thus adversely affecting the real wages of workers and vice-versa.


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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Post UTME Past Questions Agent
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