The Quantity Theory of Money state that an increase in the quantity of money would bring about

Assessment: WAEC SSCE - Economics - 1994 (Objective) Subject: Economics

Question 1 Report

The Quantity Theory of Money state that an increase in the quantity of money would bring about
Answer Details
The Quantity Theory of Money states that an increase in the quantity of money in circulation will result in a proportionate increase in the general price level of goods and services in an economy. This means that the more money there is in circulation, the higher the prices of goods and services will be. Therefore, the correct answer is "a proportionate rise in prices".
Read lesson note on Money And Inflation (WAEC)
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