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WAEC Economics 2024 Question 37

Question 37

Money and Inflation

Supply of money is best defined as the

  1. A.money in circulation plus bank deposits.
  2. B.money given out as loans to members of the public.
  3. C.amount of currency printed annually by the government.
  4. D.amount of money spent on consumer goods.
Show the answer and explanation

Answer: A (money in circulation plus bank deposits.)

Explanation

Money supply = currency in circulation + bank deposits.