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11th Principle of Economics Chapter 10 Test

Here you can prepare 11th Principle of Economics English Medium Chapter 10 Money Test. Click the button for 100% free full practice test.

First Year Principles of Economics Chapter 10 Online MCQ Test for 1st Year Principles of Economics Chapter 10 (Money)

This online test contains MCQs about following topics:

. Barter system . Evolution of money . Definition of moeny . Assumptiond of quantity theory of money . Criticism on quantity theory of money . Inflation . Deflation . Measures to control inflation . Measures to control deflation

ICOM Part 1 Economics Ch 10 Test
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First Year Principles of Economics Chapter 10 Online MCQ Test for 1st Year Principles of Economics Chapter 10 (Money)

Sr. # Questions Answers Choice
1 One of the following is not the assumption of quantity theory of money
  • A. Velocity of circulation of legal money should not change
  • B. Velocity of Circulation of credit money should not change
  • C. Quantity of hoardings should not change
  • D. Quantity of goods and services should go on changing
2 Saving deposits and time deposits of the banks, Govt. securities and shares of the companies are called
  • A. Token money
  • B. Money of account
  • C. Standard money
  • D. Near money
3 During inflation increase
  • A. Exports
  • B. Savings
  • C. Consumption
  • D. Inequality of income
4 Barter economy means the economy in which no good is generally accepted and goods are exchanged with goods. This definition is stated by the
  • A. Prof Marshall
  • B. Stanlay Fisher
  • C. Culberon
  • D. Walker
5 "What performs the functions of money, is money"<br>This definition of money is stated by
  • A. Prof Walker
  • B. Prof Marshall
  • C. Prof Crowther
  • D. Prof Pigou
6 The purchasing power of money is called
  • A. value of money
  • B. Medium of exhange
  • C. quantity of money
  • D. credit money
7 Basic characteristics of good money are
  • A. General acceptability, durability
  • B. Homogeneity,divisibility
  • C. Transferability, recognizability, convertibility
  • D. All
8 Notes and coins are legal tender money because
  • A. Government keeps gold and silver in their exchange
  • B. They are issued by the commercial banks
  • C. They are issued by the central bank
  • D. People are bound to accept them
9 "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"<br>This definition of money is stated by
  • A. Prof Walker
  • B. Prof Marshall
  • C. Prof Crowther
  • D. Prof Pigou
10 The best definition of money is stated by
  • A. Marhsall
  • B. Crowther
  • C. Keynes
  • D. Walker

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