Which of the following is true of the value of money? It<...
Which of the following is true of the value of money? It
Is positively related to the price level
Depends on the value people attach to it
Is determined by the government
Is inversely related to the price level
Correct answer is D
Value of money is what one unit of money can buy and the price level is the average of prices of all the goods and services within an economy. So when the price level increases the value of money goes down and vice versa. Hence the relationship between price level in an economy and the value of money is inverse.
Gains from trade depends on ...
Total revenue can be obtained by multiplying ...
People who dispose of their assets are expected to pay _____________ ...
Which of the following serves as a banker's bank? ...
In Nigeria, unemployment can be minimized through______? ...
An entrepreneur will locate his industry in a place ...
Supply in Economics means making ...
At the point of profit maximization by a firm, marginal cost is ...
When compared with a labour-intensive industry, a capital-intensive industry employs more? ...