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Daily Subject wise Quiz Day 57 Economy VII (Online Prelims Test)

1) Which of the following statements is/are correct about Money

  1. It serves as a medium of exchange, as a store of value, and as a unit of account.
  2. It also functions as a unit of account, providing a common measure of the value of goods and services being exchanged.

Select the correct answers using the codes given below

a. b. c. d.

2) Consider the following statements with respect to Monetary Aggregates

  1. Money should reflect monetary assets and unique liquid liabilities of a specific set of financial intermediaries as a statistical construct.
  2. Formula for Aggregate monetary resource is M3 = M1 + Net time deposits of post office savings.

Which of the above statements is/are correct?

a. b. c. d.

3) Consider the following statements with respect to Reserve Money (M0)

  1. It is also known as High-Powered Money, monetary base, base money, etc.
  2. M0 = Currency in Circulation + Bankers’ Deposits with RBI + Other deposits with RBI.

Which of the above statements is/are correct

a. b. c. d.

4) Consider the following statements with respect to Currency

  1. It is money usually issued by a government and circulated within its jurisdiction.
  2. The value of any currency fluctuates constantly in relation to other currencies.

Which of the above statements is/are correct?

a. b. c. d.

5) Which of the following statements is/are correct about Call Money

  1. It’s money borrowed or lent on demand for a very short period of time.
  2. When money is borrowed or lent for not more than 30 days it is known as Call money.

Select the correct answers using the codes given below

a. b. c. d.
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