Question # 1

Equation of relationship between quantity of money and value of money, MV=PT is presented by the economist

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Prof Taussing

Prof Fisher

Prof Crowther

Prof Marshall

This paper notes which can be converted into gold, silver or foreign exchange are called

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Standard money

Unlimited legal tender money

Convertible paper money

Inconvertible paper money

Note of 500 rupees is

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token money

credit money

convertible paper money

inconvertible paper money

The money whose face value and intrinsic value are different

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Token money

Standard money

Legal 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

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

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Increase in bank rate

Open market operation

Increase in the ratio of reserve capital of the banks

Increase in taxes

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

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

kinds of money are

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Three

Four

Five

Seven

Basic characteristics of good money are

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General acceptability, durability

Homogeneity,divisibility

Transferability, recognizability, convertibility

All

Which economist said that the term demand for money should be used instead of circulation of money

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Prof Keynes

Prof Marshall

Prof Crowther

Prof Fisher

Quantity theory of money in the form of an equation was presented by

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Prof Fisher

Prof Taussig

Prof Marshall

Prof Renald

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

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Increase

Double

Decrease

One half

It was impossible under barter system

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Lack of coincidence of wants

Lack of common measure of value

Divisibility of some goods in small parts

Solution of all the said problems

The best definition of money is stated by

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Marhsall

Crowther

Keynes

Walker

Other tern used for demand for factor is:

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Initial demand

derived demand

Direct demand

Cross demand

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

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