The Central Bank controls money supply through all the following except
Lending to the public
Bank rate
Legal reserve requirements
Open market operation
Correct answer is A
Lending to the public is not a way of controlling money supply by the central bank. This is because the central banks do not lend money directly to the public.
The headquarters of the African Development Bank (ADB) was originally located at
Cotonou
Harare
Abidjan
Lagos
Correct answer is D
No explanation has been provided for this answer.
Which of the following is a legal tender?
Bank notes
Bank overdrafts
Bills of exchange
Money order
Correct answer is A
Legal tender is the valid money used for payment of the debt and also recognised by the law of the land. It is a negotiable promissory note which one party can use to pay another party a specific amount of money.
The five countries that established the Organization of Petroleum Exporting Countries (OPEC) are
Nigeria, Iraq, Venezuela, Kuwait and Ghana
Saudi Arabia, Kuwait, Sierra Leon, Iran and Iraq
Algeria, Kuwait, Venezuela, Iran and The Gambia
Kuwait, Venezuela, Iran Iraq and Saudi Arabia
Correct answer is D
No explanation has been provided for this answer.
One major aim of a cartel is to
Increase production
Regulate output through quota system
Have a joint account
Share profits equally
Correct answer is B
No explanation has been provided for this answer.