JAMB UTME - Economics - 1986 | Green Bridge CBT

Given that the cash reserve ratio is 10 percent, what is the maximum amount of that the banking system can create from an initial cash deposit of N1,000.00?

N100.00

N1,000.00

N9,000.00

N10,000.00 Correct answer

Answer Details

Read lesson note on Banking (JAMB)

Banking

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Question 50 Report

A firm achieves least cost in production by substituting factors until

their factor prices are equal

their marginal-physical products are each equal to their factor prices

their marginal-physical products are each zero Correct answer

the ratio of their marginal-physical products equals the ratio of their prices

Answer Details

Read lesson note on The Theory Of Production (JAMB)

The Theory Of Production

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