A measure of the value of money in an economy is the
ECONOMICS
WAEC 2017
A measure of the value of money in an economy is the
- A. size of workers
- B. general price
- C. total level of savings
- D. total amount of loans granted by the banks
Correct Answer: B. general price
Explanation
The value of any good is determined by its supply and demand and the supply and demand for other goods in the economy. A price for any good is the amount ofmoney it takes to get that good. the value is inherent in its purchasing power which is price
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