JAMB Economics 2022 Objective — Question 40
Question 40 of 40 from the Joint Admissions and Matriculation Board (JAMB) Economics 2022 Objective paper, with the correct answer and a full explanation.
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40. During inflation, ____ gains and ____ losses
- A. (A) debtors/creditorsCorrect
- B. (B) creditors/debtors
- C. (C) debtors/debtors
- D. (D) creditors/creditors
Explanation
During the period of inflation, debtors gain because they pay a lesser real value to the creditor, while creditors lose because they receive a lesser real value for their money.
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