1.

Central banks in LDCs generally have less effect on expenditure and output than in LDCs because of ? I- an externally dependent banking system II- a poorly developed securities market III- a low percentage of demand deposits divided by the total money supply IV- the relative insensitivity of investment and employment to monetary policies

A. I and II only
B. III and IV only
C. I, II and III only
D. I, II , III and IV
Answer» E.


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