Post Utme Unilorin 2018 Economics Question 24

Practice objective / multiple choice question 24 from the 2018 Post Utme Unilorin Economics examination.

Post Utme Unilorin 2018 Economics Objective / Multiple Choice

Question 24 POST_UTME_UNILORIN • 2018 • ECONOMICS • objective

A country's inflation rate is 10% per annum. What is the effect on the purcha\sing power of a consumer who saves ₦100,000 per annum?

Answer Options

A. The purcha\sing power increases by 10%

Correct Answer B. The purcha\sing power decreases by 10%

C. The purcha\sing power remains the same

D. The purcha\sing power increases by 20%

Correct Answer

Correct Option:

The purcha\sing power decreases by 10%

About This Question

This is Post Utme Unilorin 2018 Economics Question 24. It is one of the objective questions from the 2018 Post Utme Unilorin Economics examination.

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