A shortcoming of the Second-tier Foreign Exchange Market in Nigeria is that it
COMMERCE
JAMB 2000
A shortcoming of the Second-tier Foreign Exchange Market in Nigeria is that it
- A. serves as a mechanism for evaluating an unrealistic exchange rate for the naira
- B. creates unhealthy competition amongst users of foreign exchange
- C. contributes to destabilizing national resource allocation
- D. contributes to flooding the market with foreign essential commodities
Correct Answer: B. creates unhealthy competition amongst users of foreign exchange
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