WAEC Economics 2013 Objective — Question 35
Question 35 of 50 from the West African Examinations Council (WAEC) Economics 2013 Objective paper, with the correct answer and a full explanation.
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All rates of interest in a country are influenced by the
- A. bank rateCorrect
- B. population growth rate
- C. wage rate
- D. mortgage rate
Explanation
The bank rate is the rate charged by the Central Bank on loans to commercial banks, and it determines other interest rates in the economy.
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