WAEC Commerce 2020 Objective — Question 27
Question 27 of 50 from the West African Examinations Council (WAEC) Commerce 2020 Objective paper, with the correct answer and a full explanation.
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The bank which acts as the lender of last resort is the
- A. Central BankCorrect
- B. Commercial Bank
- C. Merchant Bank
- D. Mortgage Bank
Explanation
When all sources failed the commercial bank, the central bank will always bail out, thus it is lender of last resort.
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