NECO Economics 2024 Objective — Question 37
Question 37 of 50 from the National Examinations Council (NECO) Economics 2024 Objective paper, with the correct answer and a full explanation.
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Supply of money is best defined as the
- A. A. money in circulation plus bank depositsCorrect
- B. B. money given out as loans to members of the public
- C. C. amount of currency printed annually by the government
- D. D. amount of money spent on consumer goods
Explanation
The supply of money can be defined as the total amount of all forms of money in the circulation and this also includes the demand deposit in all money deposit bank. It is important to note that the supply of demand is controlled by the central bank.
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