Question # 1

Which money is not legally backed

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Metallic money

Paper money

Credit money

Near money

MRP curve of a factor represents:

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Demand of factors

Supply of factors

Price of factors

Both a and c

When there is deflation, then prices

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Increase

Decrease

Remain constant

do not change

One of the following is not the assumption of quantity theory of money

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Velocity of circulation of legal money should not change

Velocity of Circulation of credit money should not change

Quantity of hoardings should not change

Quantity of goods and services should go on changing

Marginal revenue product is the amount of money attained by selling:

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Average product

Marginal product

Total product

Total cost

One of the following is not the difficulty of the barter system

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Indivisibility of goods

Lack of common measure of value

Double coincidence of wants

Lack of store of value

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

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1905

1911

1915

1917

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

One of the following is not the fiscal measure to control inflation

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Decrease in public expenditures

Increase in the value of money

Increase in taxes

Encouragement of saving

Exchange of goods with goods is called

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Medium of exchange

Store of exchange

Scale of measure of exchange

Barter system

The paper notes which can not be converted in gold, silver, or foreign exchange, are called

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Standard money

Convertible paper money

Inconvertible paper money

Legal tender money

The money whose face value is greater than its intrinsic value, is called

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Standard metallic money

Paper money

Token money

Near money

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

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Decreases

Increases

Remains constant

2nd and 3rd

kinds of money are

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Three

Four

Five

Seven

Inflation will be useful for

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Labourers

Consumers

Penioners

Industrialist

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

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