An issue of bank notes not backed by gold but by government securities is known as
Fiduciary isssue
Guaranteed money
Seigniorage
Legal tender
Correct answer is A
No explanation has been provided for this answer.
N9,000
N3,330
N2,770
N2,100
Correct answer is D
No explanation has been provided for this answer.
Which of the following is true about the value of money?
It varies inversely with the price level
It varies directly with the price level
It depreciates in the period of deflation
It is not affected by the price level
Correct answer is A
No explanation has been provided for this answer.
One of the techniques of monetary control used by the Central Bank of Nigeria is
Selective credit control
Budget deficit
Foreign exchange control
Monitoring the general price level
Correct answer is C
No explanation has been provided for this answer.
Crude petroleum is a good example of a
Lasting asset
Wasting asset
Synthetic product
Costless resources
Correct answer is B
No explanation has been provided for this answer.