Question # 1

The purchasing power of money is called

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value of money

Medium of exhange

quantity of money

credit money

Convertible paper money is issued by

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Central bank

Commercial bank

Industrial bank

Central government

The best definition of money is stated by

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Marhsall

Crowther

Keynes

Walker

Inflation is useful for

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Labourer

Consumers

Industrialist

Pensioners

One rupee note in paper money is

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Inconvertible paper money

Convertible paper money

Limited legal tender money

Unlimited legal tender money

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

Relationship of value of money with quantity of money is

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Direct

Indirect

Inverse

Positive

______ is not considered perfect money

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Note of ten rupees

Note of hundred rupees

Piece of silver

Note of one thousand rupees

This paper notes which can be converted into gold, silver or foreign exchange are called

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Standard money

Unlimited legal tender money

Convertible paper money

Inconvertible paper money

Quantity theory of money failed during world economic depression

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In 1920

In 1925

In 1929

In 1935

According to quantity theory of money one halving the quantity of money prices

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Increase

Double

Decrease

One half

Basic characteristics of good money are

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General acceptability, durability

Homogeneity,divisibility

Transferability, recognizability, convertibility

All

The money which is not in the form of net cash and is not used at once for business dealing is called

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Near money

Legal Tender money

Credit money

Paper money

What effects are expected on the purchasing power of money during deflation

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Decreases

Increases

Remains constant

2nd and 3rd

Cheque, bill of exchange etc are

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Metallic money

Paper money

Credit 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

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

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