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WAEC - Economics (2017 - No. 34)

A measure of the value of money in an economy is the
size of workers
general price
total level of savings
total amount of loans granted by the banks

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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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