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Online Tests
Principles of Economics Icom Part 1 English Medium Chapter 10 Online Test MCQs With Answers
Question # 1
One of the following is not the cause of inflation
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Increase in quantity of money
Increase in demand for goods
Increase in supply of goods
Increase in cost of production
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Question # 2
The money whose face value and intrinsic value are equal, is called
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Token money
Standard money
Paper money
Credit money
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Question # 3
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
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Question # 4
When there is deflation, then prices
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Increase
Decrease
Remain constant
do not change
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Question # 5
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
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Question # 6
All Pakistani coins are
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Token money
Standard money
Convertible money
Inconvertible money
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Question # 7
Which one of the following was the difficulty of barter system
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Abundance of goods
Lack of double coincidence of wants
Difference of language
difference of occupations
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Question # 8
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
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Question # 9
World economic depression accured in
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1927
1928
1929
1931
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Question # 10
MRP curve of a factor represents:
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Demand of factors
Supply of factors
Price of factors
Both a and c
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Question # 11
Relationship of level of prices and quantity of money
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Positive
Negative
Indirect
2nd and 3rd both
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Question # 12
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
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Question # 13
Prices during the situation of inflation
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Increase
Decrease
Do not change
Become zero
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Question # 14
Convertible paper money is issued by
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Central bank
Commercial bank
Industrial bank
Central government
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Question # 15
Inflation is useful for
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Labourer
Consumers
Industrialist
Pensioners
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Question # 16
Note of 500 rupees is
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token money
credit money
convertible paper money
inconvertible paper money
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