Question on: WAEC Economics - 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
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Correct Option: B
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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