The best method to curb inflation in Nigeria is to

Assessment: JAMB UTME - Economics - 1995 Subject: Economics

Question 1 Report

The best method to curb inflation in Nigeria is to
Answer Details
Inflation is a persistent increase in the general price level of goods and services over time. It can lead to a decrease in the purchasing power of money and an increase in the cost of living. One of the best methods to curb inflation in Nigeria is to reduce the volume of money supply. When there is too much money in circulation, demand for goods and services will increase, leading to a corresponding increase in prices. Therefore, reducing the volume of money supply will help to reduce the demand for goods and services and ultimately curb inflation. This can be achieved through various measures such as increasing interest rates, reducing government spending, and implementing effective monetary policies.
Read lesson note on Money And Inflation (WAEC)
Read lesson note on The Theory Of Consumer Behaviour (JAMB)
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