WAEC Economics 2013 Objective — Question 13
Question 13 of 50 from the West African Examinations Council (WAEC) Economics 2013 Objective paper, with the correct answer and a full explanation.
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The value of money is affected by the
- A. speculative motive
- B. price levelCorrect
- C. precautionary motive
- D. intervention of development banks
Explanation
The value of money is greatly affected by the price level: the higher the price level, the lower the value of money, and vice versa.
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