Question # 1

Inflation is useful for

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Labourer

Consumers

Industrialist

Pensioners

During inflation prices are

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Zero

Low

Increase

Constant

"Anything which is generally accepted as a medium of exchange and also performs the functions of standard of value and a store of value is money"
This definition of money is stated by

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Prof Walker

Prof Marshall

Prof Crowther

Prof Pigou

"What performs the functions of money, is money"
This definition of money is stated by

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Prof Walker

Prof Marshall

Prof Crowther

Prof Pigou

Inconvertible paper money is issued by

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Central bank

Commercial bank

Industrial bank

Central government

The paper notes which can not be converted in gold, silver, or foreign exchange, are called

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Standard money

Convertible paper money

Inconvertible paper money

Legal tender money

MRP curve of a factor represents:

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Demand of factors

Supply of factors

Price of factors

Both a and c

Quantity theory of money was criticised by

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Prof. Keynes

Prof Marshall

Prof Pigou

i and ii both

Saving deposits and time deposits of the banks, Govt. securities and shares of the companies are called

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Token money

Money of account

Standard money

Near money

Exchange of goods with goods is called

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Medium of exchange

Store of exchange

Scale of measure of exchange

Barter system

The coins whose current price is greater than their intrinsic value, are called

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Standard coins

Paper money

Token money

Credit money

Which economist said that the term demand for money should be used instead of circulation of money

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Prof Keynes

Prof Marshall

Prof Crowther

Prof Fisher

The money in which payment can be made only to certain extent is called

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Unlimited legal tender money

Limited legal tender money

Metallic money

Paper money

The money whose face value is greater than its intrinsic value, is called

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Standard metallic money

Paper money

Token money

Near money

Functions of money are

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Medium of exchange

Common measure of value

Store of value

All the three

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Principles of Economics Icom Part 1 English Medium Chapter 10 Online Test MCQs With Answers

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