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Economics Past Questions and Answers
Classroom
Waec
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Question type:
Question type
Objective
Theory
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Waec Economics Questions
Question 866:
WAEC 2005
A commercial banks deposits are
SchoolNGR Classroom
A
Liabilities
B
Assets
C
Capital
D
Cash at hand
View Answer & Explanation
Question 867:
WAEC 2005
The lender of last resort in the banking system is the
SchoolNGR Classroom
A
Industrial banks
B
Mortgage banks
C
Commercial banks
D
Central banks
View Answer & Explanation
Question 868:
WAEC 2005
Discounting a bill of exchange means the bill is
SchoolNGR Classroom
A
Cashed over the counter
B
Sold on the stock exchange
C
Bought for less than its face value
D
Sold to the highest bidder
View Answer & Explanation
Question 869:
WAEC 2005
The central banks control credit in the economy through the use of
SchoolNGR Classroom
A
Legal tender
B
Travellers cheque
C
Foreign exchange instruments
D
Open market operation
View Answer & Explanation
Question 870:
WAEC 2005
Among the principles of taxation propounded by Adam Smith was that
SchoolNGR Classroom
A
A tax should be impossible to evade
B
A tax should be convenient to pay
C
No tax should be levied on food
D
There should be no taxation without representation
View Answer & Explanation
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