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

Question # 1

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

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Decreases

Increases

Remains constant

2nd and 3rd

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Question # 2

Which kind of budget is better during the situation of deflation

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Deficit budget

Surplus budget

Balanced budget

National budget

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Question # 3

Value of money means purchasing power of money. If quantity of money is doubled then

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Purchasing power of money will be one halved

Purchasing power of money will be doubled

Purchasing power of money will be tripled

There will be no effect on the purchasing power of money

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Question # 4

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

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Increase

Double

Decrease

One half

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Question # 5

During inflation increase

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Exports

Savings

Consumption

Inequality of income

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Question # 6

There exists a relationship between inflation and deflation

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Increasing

Inverse

Indirect

None of three

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Question # 7

Inflation will be useful for

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Labourers

Consumers

Penioners

Industrialist

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Question # 8

"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

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Question # 9

Quantity theory of money was criticised by

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Prof. Keynes

Prof Marshall

Prof Pigou

i and ii both

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Question # 10

Which kind of budget is better during the situation of inflation

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Deficit budget

Surplus budget

Balanced budget

Domestic budget

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Question # 11

Inflation is useful for

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Labourer

Consumers

Industrialist

Pensioners

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