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WAEC Economics 2008 Question 36

Question 36

Money and Inflation

The supply of money in the economy includes

  1. A.bank notes only
  2. B.bank notes and coins
  3. C.bank notes and bank deposits
  4. D.bank notes, coins and bank deposits.
Show the answer and explanation

Answer: D (bank notes, coins and bank deposits.)

Explanation

Money supply is currency (notes and coins) plus bank deposits.