Question # 1

What is money

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Coins of gold and silver

Paper money

Agricultural crops

Everything which can be used as a medium of exchange

According to quantity theory of money doubling the quantity of money, prices

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Increase

Double

Decrease

One half

"Purchasing power of money is inverse of level of prices. So study of purchasing power of money is identical with the study of level of prices." These are the words of

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Prof Irving Fisher

Prof Crowther

Prof Pigou

Prof Keynes

World economic depression accured in

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1927

1928

1929

1931

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

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1905

1911

1915

1917

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

Convertible paper money is issued by

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Central bank

Commercial bank

Industrial bank

Central government

The coins whose current price is greater than their intrinsic value, are called

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Standard coins

Paper money

Token money

Credit money

______ is not considered perfect money

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Note of ten rupees

Note of hundred rupees

Piece of silver

Note of one thousand rupees

MRP curve is slopping:

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Negative

Positive

Downward

Both a and c

The best definition of money is stated by

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Marhsall

Crowther

Keynes

Walker

There exists a relationship between inflation and deflation

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Increasing

Inverse

Indirect

None of three

If face value is equal to the metal value of a coin, it is called as

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Paper money

Token money

Credit money

Standard money

All Pakistani coins are

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Token money

Standard money

Convertible money

Inconvertible money

Relationship of level of prices and quantity of money

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Positive

Negative

Indirect

2nd and 3rd both

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

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