An increase in liquid reserve requirements by the central bank of Nigeria will result in
A reduction in commercial banks' excess reserves
More commercial bank loan to members of the public
An increase in commercial banks excess reserves
No change in commercial banks excess reserves
A reduction in central banks gold reserves
Correct answer is C
No explanation has been provided for this answer.
The biggest source of government revenue in Nigeria is
Mining, rents and royalties
Company income tax
Import duties
Export duties
Petroleum profit tax
Correct answer is E
No explanation has been provided for this answer.
A commodity market
An import licensing centre
Another name for the Lagos stock exchange
An insurance and underwriting centre
A cheque sorting centre
Correct answer is E
No explanation has been provided for this answer.
The largest liability appearing in the book of a commercial bank is
Cash
Deposits
Loans and advances
Capital and reserves
Treasury bills
Correct answer is B
No explanation has been provided for this answer.
Which of the following statements is true?
A proportional tax is one which takes from high income people a larger fraction of their income than it takes for low income people
Taxes on commodities of services which can be shifted elsewhere are usually called direct taxes
The sole proprietor is a legal entity
The influence of demand on price will be smallest on the short run
The cost of production is the most important determining factor of supply in the long run
Correct answer is D
No explanation has been provided for this answer.