If Mr. K obtains a N50.000 loan from a bank for the purpose of providing household needs, the demand for money is said to be
The correct answer is A. transactionary
When Mr. K obtains a loan from a bank to provide for household needs, the demand for money is said to be transactionary.
The transactionary demand for money refers to the demand for money to meet day-to-day transactions and expenses, such as household needs, shopping, and other regular expenses.
Previous question Next questionWhat is Exam without Practice? With our customizable CBT practice tests, you’ll be well-prepared and ready to excel in your examsStart Practicing Now
