Post Utme Lead City University 2023 Economics Question 15

Practice objective / multiple choice question 15 from the 2023 Post Utme Lead City University Economics examination.

Post Utme Lead City University 2023 Economics Objective / Multiple Choice
Question 15 POST_UTME_LEAD_CITY_UNIVERSITY • 2023 • ECONOMICS • objective

A central bank uses the money supply to control inflation. If the money supply is given by \( M = 1000 + 0.1Y \) and the price level is given by \( P = 10 + 0.01Y \), find the rate of inflation.

Answer Options

A. \( 2% \ \)
Correct Answer B. \( 5% \ \)
C. \( 10% \ \)
D. \( 15% \ \)
Correct Answer
B
Correct Option:
\( 5% \ \)

About This Question

This is Post Utme Lead City University 2023 Economics Question 15. It is one of the objective questions from the 2023 Post Utme Lead City University Economics examination.

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