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WAEC Economics 2013 Question 32

Question 32

Financial Institutions

Which of the following is involved in the money market?

  1. A.Building society.
  2. B.Development banks.
  3. C.Commercial banks.
  4. D.Stock exchange.
Show the answer and explanation

Answer: C (Commercial banks.)

Explanation

The money market deals in short-term funds, where commercial banks, discount houses and the central bank operate.