Post Utme Christopher University 2022 Economics Question 5

Practice objective / multiple choice question 5 from the 2022 Post Utme Christopher University Economics examination.

Post Utme Christopher University 2022 Economics Objective / Multiple Choice

Question 5 POST_UTME_CHRISTOPHER_UNIVERSITY • 2022 • ECONOMICS • objective

A country's inflation rate is given by the equation π = \( P - P* \) / P, where P is the current price level and P is the base price level. If the country's current price level is P = 100 and the base price level is P* = 80, what is the country's inflation rate?

Answer Options

A. 0.25

Correct Answer B. 0.5

C. 0.75

D. 1

Correct Answer

Correct Option:

0.5

About This Question

This is Post Utme Christopher University 2022 Economics Question 5. It is one of the objective questions from the 2022 Post Utme Christopher University Economics examination.

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Post Utme Christopher University 2022 Economics Question 5

A country's inflation rate is given by the equation π = \( P - P* \) / P*, where P is the current price level and P* is the base price level. If the country's current price level is P = 100 and the base price level is P* = 80, what is the country's inflation rate?

Answer Options

About This Question

Master the Exam!

A country's inflation rate is given by the equation π = \( P - P* \) / P, where P is the current price level and P is the base price level. If the country's current price level is P = 100 and the base price level is P* = 80, what is the country's inflation rate?