Waec Model Questions Vol1 2021 Economics Question 18
Practice objective / multiple choice question 18 from the 2021 Waec Model Questions Vol1 Economics examination.
The central bank sets the required reserve ratio at 10 % and the public's currency‑deposit ratio at 0.25. The monetary base is ₦500 million. The government announces a policy that will raise the required reserve ratio to 12 % while the currency‑deposit ratio stays unchanged. What is the percentage change in the money supply caused by this policy?
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About This Question
This is Waec Model Questions Vol1 2021 Economics Question 18. It is one of the objective questions from the 2021 Waec Model Questions Vol1 Economics examination.
Difficulty level: Medium .
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