Post Utme Crawford University 2019 Economics Question 25

Practice objective / multiple choice question 25 from the 2019 Post Utme Crawford University Economics examination.

Post Utme Crawford University 2019 Economics Objective / Multiple Choice

Question 25 POST_UTME_CRAWFORD_UNIVERSITY • 2019 • ECONOMICS • objective

A country's inflation rate is given by the equation π = \( P - P^* \) / P^, where π is the inflation rate, P is the current price level, and P^ is the base price level. If the current price level is ₦100 and the base price level is ₦90, what is the value of the country's inflation rate?

Answer Options

A. 10%

Correct Answer B. 20%

C. 30%

D. 40%

Correct Answer

Correct Option:

20%

About This Question

This is Post Utme Crawford University 2019 Economics Question 25. It is one of the objective questions from the 2019 Post Utme Crawford University Economics examination.

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Post Utme Crawford University 2019 Economics Question 25

A country's inflation rate is given by the equation π = \( P - P^* \) / P^*, where π is the inflation rate, P is the current price level, and P^* is the base price level. If the current price level is ₦100 and the base price level is ₦90, what is the value of 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 π is the inflation rate, P is the current price level, and P^ is the base price level. If the current price level is ₦100 and the base price level is ₦90, what is the value of the country's inflation rate?