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

Question # 1

If we multiply margina product with price we get:

Choose an answer

MFC

MRP

TVC

Both a and b

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Question # 2

Relationship of value of money with quantity of money is

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Direct

Indirect

Inverse

Positive

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Question # 3

Quantity theory of money failed during world economic depression

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In 1920

In 1925

In 1929

In 1935

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Question # 4

What effects are expected on the purchasing power of money during deflation

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Decreases

Increases

Remains constant

2nd and 3rd

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Question # 5

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 # 6

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 # 7

Kinds of credit money are

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Verbal promise and written promise

Govt. securities & debentures

Cheque & Drafts

Share of Companies

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Question # 8

Basic characteristics of good money are

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General acceptability, durability

Homogeneity,divisibility

Transferability, recognizability, convertibility

All

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Question # 9

Saving deposits and time deposits of the banks, Govt. securities and shares of the companies are called

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Token money

Money of account

Standard money

Near money

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Question # 10

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 # 11

Notes and coins are legal tender money because

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Government keeps gold and silver in their exchange

They are issued by the commercial banks

They are issued by the central bank

People are bound to accept them

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