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Online Tests
Principles of Economics Icom Part 1 English Medium Chapter 10 Online Test MCQs With Answers
Question # 1
The unit of money by which the value of goods and services is expressed is called
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Paper money
Money of account
Legal tender money
Near money
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Question # 2
Marginal revenue product is the amount of money attained by selling:
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Average product
Marginal product
Total product
Total cost
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Question # 3
Functions of money are
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Medium of exchange
Common measure of value
Store of value
All the three
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Question # 4
Other tern used for demand for factor is:
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Initial demand
derived demand
Direct demand
Cross demand
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Question # 5
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
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Question # 6
Exchange of goods with goods is called
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Medium of exchange
Store of exchange
Scale of measure of exchange
Barter system
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Question # 7
When demand for goods and services rises, then velocity of circulation of money
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Increases
Decreases
Remains constant
Does not change
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Question # 8
The money whose face value and intrinsic value are different
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Token money
Standard money
Legal money
Near money
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Question # 9
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
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Question # 10
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
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Question # 11
"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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