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981

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
View Answer & Discuss WAEC 2010
982

One disadvantages of direct taxes is that they

  • A. allocate scarce resources
  • B. are not rigid
  • C. can be progressive
  • D. can be evaded
View Answer & Discuss WAEC 2010
983

Excise duty is levied on

  • A. the total population
  • B. local products
  • C. luxury goods
  • D. the working population
View Answer & Discuss WAEC 2010
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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984

A component of the national debt of a country is

  • A. taxation
  • B. bank saving
  • C. the budget
  • D. treasury bills
View Answer & Discuss WAEC 2010
985

When the demand for a good is fairly inelastic, the burden of an indirect tax falls

  • A. more on the consumers of the goods
  • B. more on the sellers of the goods
  • C. on sellers and consumers equally
  • D. completely on the capital
View Answer & Discuss WAEC 2010
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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