JAMB Economics 2008 Objective — Question 29

Question 29 of 50 from the Joint Admissions and Matriculation Board (JAMB) Economics 2008 Objective paper, with the correct answer and a full explanation.

The high rate of inflation in Nigeria can be attributed to

A. increasing cost of productionCorrect
B. the appreciation of the naira
C. decreasing cost of production
D. high capacity utilization

Explanation

Increasing cost of production leads to cost-push inflation. This is peculiar with Nigerian inflation.

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