WAEC Economics 2017 Objective — Question 38
Question 38 of 50 from the West African Examinations Council (WAEC) Economics 2017 Objective paper, with the correct answer and a full explanation.
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The function that distinguishes commercial banks from the central bank is that the former
- A. A. is a lender of last resort
- B. B. accepts deposits from the publicCorrect
- C. C. services the public debt
- D. D. regulates foreign exchange
Explanation
Commercial banks accept deposit from the general public while the central banks do not.
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