Question # 1

When demand for goods and services rises, then velocity of circulation of money

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Increases

Decreases

Remains constant

Does not change

"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

Quantity theory of money failed during world economic depression

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In 1920

In 1925

In 1929

In 1935

Cheque, bill of exchange etc are

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Metallic money

Paper money

Credit money

Near money

Marginal productivity theory was presented by:

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Pigou and Cannon

Adam Smith and F.A. Walker

Keynes and Semeulson

Marshall and J.B. Clark

Which kind of budget is better during the situation of deflation

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Deficit budget

Surplus budget

Balanced budget

National budget

Inflation will be useful for

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Labourers

Consumers

Penioners

Industrialist

Functions of money are

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Medium of exchange

Common measure of value

Store of value

All the three

By which money business dealing has become easy

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Metalic money

Paper money

Credit money

Near money

One of the following is not the method to control deflation

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Decrease in public expenditures

Decrease in interest rate

Decrease in income tax

increase in exports

Prices during the situation of inflation

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Increase

Decrease

Do not change

Become zero

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

Note of 500 rupees is

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token money

credit money

convertible paper money

inconvertible paper 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

Quantity theory of money was criticised by

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Prof. Keynes

Prof Marshall

Prof Pigou

i and ii both

"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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