Question # 1

Note of 500 rupees is

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token money

credit money

convertible paper money

inconvertible paper money

Which one of the following was the difficulty of barter system

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Abundance of goods

Lack of double coincidence of wants

Difference of language

difference of occupations

Relationship of value of money with quantity of money is

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Direct

Indirect

Inverse

Positive

During inflation prices are

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Zero

Low

Increase

Constant

Quantity theory of money in the form of an equation was presented by

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Prof Fisher

Prof Taussig

Prof Marshall

Prof Renald

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

Prices during the situation of inflation

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Increase

Decrease

Do not change

Become zero

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

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Decreases

Increases

Remains constant

2nd and 3rd

"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

Basic characteristics of good money are

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General acceptability, durability

Homogeneity,divisibility

Transferability, recognizability, convertibility

All

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

Which kind of budget is better during the situation of deflation

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Deficit budget

Surplus budget

Balanced budget

National budget

The purchasing power of money is called

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value of money

Medium of exhange

quantity of money

credit money

"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

Cheque, bill of exchange etc are

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Metallic money

Paper money

Credit money

Near money

The main cause of using the Cheque as money is

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They are proved as receipt

Most of the people accept them

Protection of money

Easy in transportation

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

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