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WAEC Economics 1994 Question 11

Question 11

Financial Institutions

The Central Bank controls commercial banks through all the following measures except

  1. A.the use of directives
  2. B.the use of bank rate
  3. C.open market operations
  4. D.accepting deposits
  5. E.demanding special deposits
Show the answer and explanation

Answer: D (accepting deposits)

Explanation

Directives, bank rate, open market operations and special deposits are monetary control tools; accepting deposits is not a control measure.