Question # 1

Other tern used for demand for factor is:

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Initial demand

derived demand

Direct demand

Cross demand

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

Functions of money are

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Medium of exchange

Common measure of value

Store of value

All the three

During inflation increase

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Exports

Savings

Consumption

Inequality of income

Production of an additional unit of factor refers to:

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AP

TP

MP

MR

According to quantity theory of money, if quantity of money is doubled then prices are doubled while value of money is

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Doubled

One halved

Less than one halved

Not influenced

Inflation will be useful for

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Labourers

Consumers

Penioners

Industrialist

Which kind of budget is better during the situation of inflation

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Deficit budget

Surplus budget

Balanced budget

Domestic budget

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

The unit of money by which the value of goods and services is expressed is called

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Paper money

Money of account

Legal tender money

Near money

Equation of relationship between quantity of money and value of money, MV=PT is presented by the economist

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Prof Taussing

Prof Fisher

Prof Crowther

Prof Marshall

Net National product is equal to

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GNP + Depreciation expenditure

GDP + Depreciation expenditure

GNP - Depreciation expenditure

GDP - Depreciation expenditure

Prof Fisher presented quantity theory of money in the form of an equation in

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1905

1911

1915

1917

Kinds of credit money are

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Verbal promise and written promise

Govt. securities & debentures

Cheque & Drafts

Share of Companies

One of the following is not the cause of deflation

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Decrease in demand for goods

Decrease in consumption

Increase in quantity of money

Increase in supply of goods

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

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

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