WAEC Economics 2014 Objective — Question 46
Question 46 of 50 from the West African Examinations Council (WAEC) Economics 2014 Objective paper, with the correct answer and a full explanation.
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Which of the following functions of money is mostly affected during inflation?
- A. Medium of exchange
- B. Unit of Account
- C. Store of valueCorrect
- D. Standard of deferred payment
Explanation
When there is inflation, the value of money is eroded away. It then becomes a poor store of value.
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