Waec Model Questions Vol1 2024 Economics Question 47
Practice objective / multiple choice question 47 from the 2024 Waec Model Questions Vol1 Economics examination.
In an economy total bank deposits amount to ₦500 million while the public holds ₦100 million as currency. The reserve requirement is 5 %. The Central Bank wishes to raise the overall money supply by ₦150 million through an open‑market purchase of securities. How much should the Central Bank spend on securities (in millions of naira) to achieve this target?
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About This Question
This is Waec Model Questions Vol1 2024 Economics Question 47. It is one of the objective questions from the 2024 Waec Model Questions Vol1 Economics examination.
Difficulty level: Medium .
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