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UI Post-UTME Economics 2024 (Model questions) Question 6

Question 6

Money and Inflation

In the equation MV = PY, M represents

  1. A.Money supply
  2. B.Money demand
  3. C.Maximum output
  4. D.Minimum output
Show the answer and explanation

Answer: A (Money supply)

Explanation

M is the quantity of money in circulation, the money supply.