Waec Model Questions Vol1 2024 Economics Question 10

Practice objective / multiple choice question 10 from the 2024 Waec Model Questions Vol1 Economics examination.

Waec Model Questions Vol1 2024 Economics Objective / Multiple Choice Medium Difficulty
Question 10 WAEC_MODEL_QUESTIONS_VOL1 • 2024 • ECONOMICS • objective

In a banking system the required reserve ratio is 10% and banks keep an excess‑reserve ratio of 2% of deposits. If a new cash injection of ₦20 billion is deposited in the banking system, what is the maximum possible increase in the money supply?

Answer Options

A. 1000.00
B. 200.00
Correct Answer C. 166.67
D. 2.40
Correct Answer
C
Correct Option:
166.67

About This Question

This is Waec Model Questions Vol1 2024 Economics Question 10. It is one of the objective questions from the 2024 Waec Model Questions Vol1 Economics examination.

Difficulty level: Medium .

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