(a) (i) As a fiscal agent, the Central Bank performs the following functions : 

• It manages the public borrowings for the government. 

• It collects taxes and other payments on behalf of the government. 

• It acts as the government agent to enforce foreign exchange control. 

(ii) The central bank also acts as the financial adviser to the government. It gives advice to the government on all financial and economic matters such as deficit financing, devaluation of currency, trade policy, foreign exchange policy, etc. 

(b) (a) Land is defined to include not only the surface of the Earth but also all the other gifts of nature. Four characteristics of land : 

1. Land is limited in supply: Supply of land is fixed as it is given by nature. 

2. Gifts of nature: Land is a gift of nature which does not have any cost of production. Land is readily available for any use. However, other agents of production are available . at a cost. 

3. Primary factor of production : Land is a basic factor of production because it cannot produce anything by itself. 

4. Land has alternative uses: Land can be used for alternative uses such as cultivation, dairy or poultry-farming, rearing of livestock, building of houses, playground etc.