Which of the following functions of money is mostly affec...
Which of the following functions of money is mostly affected during inflation?
Medium of exchange
Unit of Account
Store of value
Standard of deferred payment
Correct answer is C
Inflation erodes the value of money; it does not keep its value. Something that costs a certain amount today will cost more tomorrow. This affects everything from the timing of transactions to the amount required for future payments (interest rates).
The petroleum industry in Nigeria is an example of a ...
The type of business finance that entitle the holder to a fixed rate of dividend is ...
In a free market economy, resources are allocated through the ...
One of the factors affecting geographical distribution of population is ...
Economic development is define as ...
The stability of Nigerian economy depends mainly on the export price of ...
In the analysis of utility theory, the basis of demand is ...
Which of the following categories of people do not gain during inflation? ...
In most underdeveloped countries, development plans do not achieve their objective due to ...