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UI Post-UTME Economics 2024 (Model questions) Question 8

Question 8

Money and Inflation

The number of times a unit of money exchanges hands during a unit period of time is known as

  1. A.Velocity of the circulation of money
  2. B.Speed of circulation of money
  3. C.Momentum of circulation of money
  4. D.Count of circulation of money
Show the answer and explanation

Answer: A (Velocity of the circulation of money)

Explanation

This is called the velocity of circulation of money.