Question # 1

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

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

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

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Decrease in public expenditures

Increase in the value of money

Increase in taxes

Encouragement of saving

Net National product is equal to

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GNP + Depreciation expenditure

GDP + Depreciation expenditure

GNP - Depreciation expenditure

GDP - Depreciation expenditure

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

Exchange of goods with goods is called

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Medium of exchange

Store of exchange

Scale of measure of exchange

Barter system

There exists a relationship between inflation and deflation

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Increasing

Inverse

Indirect

None of three

One of the following is not the characteristic of money

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General acceptability

Durability

Non homogeneity

Convertibility

MRP curve of a factor represents:

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Demand of factors

Supply of factors

Price of factors

Both a and c

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

Prices during the situation of inflation

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Increase

Decrease

Do not change

Become zero

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

"Anything which is generally accepted as a medium of exchange and also performs the functions of standard of value and a store of value is money"
This definition of money is stated by

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Prof Walker

Prof Marshall

Prof Crowther

Prof Pigou

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 one of the following does not exist during deflation

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Production decreases

Value of money increases

Supply of goods and services increases from their demand

Level of employment increases

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

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