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WAEC Economics 2014 Question 29

Question 29

Money and Inflation

Money will serve as a standard of deferred payment if it is

  1. A.homogeneous.
  2. B.durable.
  3. C.easily recognized.
  4. D.stable in value.
Show the answer and explanation

Answer: D (stable in value.)

Explanation

Debts paid in the future are fair only if money keeps its value.