Question # 1

There exists a relationship between inflation and deflation

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Increasing

Inverse

Indirect

None of three

MRP curve is slopping:

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Negative

Positive

Downward

Both a and c

"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

By which money business dealing has become easy

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Metalic money

Paper money

Credit money

Near money

Inflation is created

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When demand for goods is less than their supply

When demand for goods is more than their supply

When demand for goods becomes equal to their supply

When demand and supply of goods do not change

Other tern used for demand for factor is:

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Initial demand

derived demand

Direct demand

Cross demand

Saving deposits and time deposits of the banks, Govt. securities and shares of the companies are called

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Token money

Money of account

Standard money

Near money

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 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

The money whose face value and intrinsic value are equal, is called

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Token money

Standard money

Paper money

Credit money

During inflation increase

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Exports

Savings

Consumption

Inequality of income

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

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Increase

Double

Decrease

One half

Disadvantages of paper money are

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Unstable value

Possibility of inflation

Possibility of wastage

All the three

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

Functions of money are

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Medium of exchange

Common measure of value

Store of value

All the three

"Money is a thing by which payments of agreements of borrowing and pricing are made and general purchasing power is stored in it." This definition of money is stated by the economist

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Prof Marshall

Prof Walker

Prof Keynes

Prof Crowther

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

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