Gresham's law in economics shows that
Bad money drives good money out of circulation
Good money drives bad money out of circulation
Gold must be available to maintain the value of paper money
The price level varies directly with the quality of money
Correct answer is A
No explanation has been provided for this answer.
Which of the following is used by the Central Bank to control the rate of interest?
Bill of Exchange
Banker's order
Fixed deposit account
Open market operation
Correct answer is B
No explanation has been provided for this answer.
To control inflation, the monetary authorities of a country can
Reduce taxes
Advise government to increase its expenditure
Engage in expansive monetary policy
Engage inrestrictive monetary policy
Correct answer is D
No explanation has been provided for this answer.
The Nigeria Bank for Commerce and Industry is?
A commercial Bank
A developmment bank
An industrial bank
A merchant bank
Correct answer is B
No explanation has been provided for this answer.
The economic goal of public utilities is to
Maximize profit
Expand assets
Minimize costs
Provide essential services
Pay higher dividends to shareholders
Correct answer is D
No explanation has been provided for this answer.