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A major factor affecting the value of money is the?

Economics
JAMB 2020

A major factor affecting the value of money is the?

  • A. price level
  • B. banking habits
  • C. transaction motive
  • D. divisible nature of money
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Correct Answer: Option A
Explanation

The prevailing price level is one of the major factors that affect the value of money. A rise or decline in prices of goods and services has a direct effect on the value of money.


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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC offline past questions - with all answers and explanations in one app - Download for free
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995