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Economics 2010 WAEC Past Questions

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36

The Central Bank controls money supply through all the following except

  • A. lending to the publics
  • B. bank rate
  • C. legal reserve requirements
  • D. open market operation
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37

One of the functions of the Central Bank is

  • A. production of goods
  • B. issuing of currency
  • C. presenting budgets
  • D. printing of cheque books
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38

The function of the Central Bank as the lender of last resort means that when all other sources fail,

  • A. the consumer can always borrow money from the Central Bank
  • B. the government can ask the Central Bank to print more money
  • C. commercial banks can raise loans from the Central Bank
  • D. commercial banks can deposit money with the Central Banks
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39

One disadvantages of direct taxes is that they

  • A. allocate scarce resources
  • B. are not rigid
  • C. can be progressive
  • D. can be evaded
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40

Excise duty is levied on

  • A. the total population
  • B. local products
  • C. luxury goods
  • D. the working population
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