WAEC Economics 2013 Objective — Question 9
Question 9 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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Which of the following is a function of merchant banks?
- A. Acting as bankers' bank
- B. Lending to the commercial banks as a last resort
- C. Controlling inflation in the economy
- D. Underwriting and issuing of sharesCorrect
Explanation
Merchant banks, among other functions, underwrite and issue new shares on behalf of corporations.
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