The total stock of money available for use in an economy is

Analyze the question: It asks for the term that describes the total stock of money available for use in an economy.

Explain the concept:

• Supply of money: the total amount of money (currency in circulation plus bank deposits, etc.) available in an economy at a given time. It is a stock concept.
• Value of money: what money can buy, which is its purchasing power. It is the inverse of the price level.
• Demand for money: the amount of money people and firms want to hold, for transactions, precaution, and speculation (Keynes' liquidity preference).
• Attribute of money: a characteristic of money, such as durability, portability, divisibility, or acceptability.

Solution:

1. The phrase "total stock of money" refers to the quantity of money that exists.
2. "Available for use" means money that is actually circulating in the economy.
3. That is the definition of the money supply, which is controlled by the Central Bank of Nigeria (CBN) through monetary policy.
4. Value of money is about purchasing power, demand for money is about how much people want to hold, and attribute of money is about its features. None of these describes the total stock.

Answer: A. supply of money

Tip: Link the key words to the concept:

• "Stock/total amount available" → Supply
• "Willingness to hold/desire" → Demand
• "Purchasing power" → Value
• "Features/characteristics" → Attributes