Self Studies
Self Studies
Self Studies
Self Studies

Economics Test - 20

Result Self Studies

Economics Test - 20
  • Score

    -

    out of -
  • Rank

    -

    out of -
TIME Taken - -
Self Studies

SHARING IS CARING

If our Website helped you a little, then kindly spread our voice using Social Networks. Spread our word to your readers, friends, teachers, students & all those close ones who deserve to know what you know now.

Self Studies Self Studies
Weekly Quiz Competition
  • Question 1
    5 / -1

    A farmer exchanges wheat for cloth.

    This system of exchange is referred to as ________

    Solution

    Exchange of Commodity for Commodity is known as Barter System of Exchange which was followed before the evolution of money.

  • Question 2
    5 / -1

    ______ money refers to the m oney backed by the authority of the government.

    Solution

    Fiat money refers to the government- authorised money not backed by any equivalent assets.

  • Question 3
    5 / -1

    In credit money, the money value is less than the commodity value.

    Solution

    In credit money, the money value is more than the commodity value.

  • Question 4
    5 / -1

    ‘A’ has a good that ‘B’ wants and ‘B’ has a good that A’ wants. This is referred to as ______ under barter system of exchange.

    Solution

    Two individuals involved in the exchange under barter system must possess the good that each other wanted is known as double coincidence of wants.

  • Question 5
    5 / -1

    Cheques are examples of _________ money.

    Solution

    Fiduciary money refers to the money which is backed by the trust between payer and payee and not by any government.

  • Question 6
    5 / -1

    In the present COVID 19 times, many economists have raised their concerns that Indian economy may have to face a deflationary situation, due to reduced economic activities in the country. Suppose you are a member of the high-powered committee constituted by the Reserve Bank of India (RBI).

    You have suggested that as the supervisor of commercial banks, ...............of the money supply be ensured, by the Reserve Bank of India (RBI).

    Solution

    Increase/release of money in the economy will lead to increase in demand leading to increase in employment to deal with the above situation.

  • Question 7
    5 / -1

    _______ is the agent and adviser to the Government of India.

    Solution

    Central Bank of the country i.e., RBI functions as the advisor to the central government.

  • Question 8
    5 / -1

    Loans offered by commercial banks .......... the m oney supply in the economy.

    Solution

    Loans offered leads to increase in the ability of commercial banks to create more currency in the economy.

  • Question 9
    5 / -1

    Supply of m oney refers to ________

    Solution

    Money supply at a given point of time is equal to the sum total of currency held by public and demand deposits with commercial banks.

  • Question 10
    5 / -1

    All financial institutions are banking institutions.

    Solution

    Not all financial institutions are banks, there are non-banking financial institutions also like LIC.

Self Studies
User
Question Analysis

  • Correct -

  • Wrong -

  • Skipped -

My Perfomance
  • Score

    -

    out of -
  • Rank

    -

    out of -
Re-Attempt Weekly Quiz Competition
Self Studies Get latest Exam Updates
& Study Material Alerts!
No, Thanks
Self Studies
Click on Allow to receive notifications
Allow Notification
Self Studies
Self Studies Self Studies
To enable notifications follow this 2 steps:
  • First Click on Secure Icon Self Studies
  • Second click on the toggle icon
Allow Notification
Get latest Exam Updates & FREE Study Material Alerts!
Self Studies ×
Open Now