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JAMB Economics 1997 Question 32

Question 32

Money and Inflation

The most important attribute of money is

  1. A.homogeneity
  2. B.relative scarcity
  3. C.divisibility
  4. D.general acceptability.
Show the answer and explanation

Answer: D (general acceptability.)

Explanation

Anything can serve as money only if people generally accept it in payment for goods and debts.