Question # 1

Relationship of value of money with quantity of money is

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Direct

Indirect

Inverse

Positive

One of the following is not the characteristic of money

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General acceptability

Durability

Non homogeneity

Convertibility

"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

Functions of money are

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Medium of exchange

Common measure of value

Store of value

All the three

Production of an additional unit of factor refers to:

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AP

TP

MP

MR

Prof Fisher presented quantity theory of money in the form of an equation in

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1905

1911

1915

1917

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

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

kinds of money are

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Three

Four

Five

Seven

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

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Increase

Double

Decrease

One half

Relationship of level of prices and quantity of money

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Positive

Negative

Indirect

2nd and 3rd both

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

MRP curve of a factor represents:

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Demand of factors

Supply of factors

Price of factors

Both a and c

Which money is not legally backed

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Metallic money

Paper money

Credit money

Near money

The best definition of money is stated by

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Marhsall

Crowther

Keynes

Walker

One of the following is not fiscal measure to control inflation

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Decrease in public expenditures

Increase in taxes

Encouragement of savings

Increase in investment

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

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