The total amount of money in circulation includes cash?

Assessment: JAMB UTME - Economics - 1992 Subject: Economics

Question 1 Report

The total amount of money in circulation includes cash?
Answer Details
The total amount of money in circulation includes cash, and current account balances owned by banks and non-bank public. In other words, it refers to the sum of all physical currency and bank account balances, including checking and savings accounts, that are available in an economy at a given time. This includes money owned by banks, the government, and the non-bank public.
Read lesson note on Banking (JAMB)
Read lesson note on Money And Inflation (JAMB)
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