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Question
Which statement best describes the central bank?
Options
A bank that only provides loans to the public
A bank that aims only to maximise profits
A bank that is the apex authority of a country’s monetary and banking system
A bank that deals only in foreign exchange
MCQ
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Solution
A bank that is the apex authority of a country’s monetary and banking system
Explanation:
The central bank stands at the apex of the monetary and banking structure and controls money and credit in the country.
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