CSS :: Money Banking and International Trade

1.  Which one of the following approaches to the definition of money gives the widest possible view of money?
A. Central bank approach B. Conventional approach
C. Chicago approach D. Gurley Shaw approach

2.  The best example of representative full-bodied money is found in the 'gold certificates' which circulated in the U.S.A. before being withdrawn from circulation in:
A. 1925 B. 1927
C. 1929 D. 1933

3.  Which of the following is not a function of money?
A. Medium of exchange B. Unit of account
C. Standard of deferred payments D. Stabilization of price level

4.  Money has been defined as 'that by delivery of which debt contracts and price contracts are discharged, and in the the shape of which general purchasing power is held'. Whole definition is this?
A. G. Crowther B. D.H.Robertson
C. J.M.Keynes D. George N.Halm

5.  Fiat money refers to:
A. Credit money B. Legal money
C. Full bodied money D. International money

6.  Which one of the following is an example of quasi-money or near-money?
A. Bills of exchange B. Cheque
C. Bank notes D. Coins

7.  When the commodity value of money and its value as money are equal, it is called:
A. Token money B. Full-bodied money
C. Quasi-money D. Fiat money

8.  The limited legal-tender money stands for the component of money which:
A. Is issued in a limited amount B. Is legal tender for payment upto a certain maximum amount
C. Is legal tender in specified areas D. Is to be used in specific transactions

9.  As compared to the classical theory, which function of money was stressed more in the Keynesian theory?
A. Unit of account B. Medium of exchange
C. Standard of deferred payments D. Store of value

10.  Bad money drives good money out of circulation. With whole name is this law associated?
A. J.M.Keynes B. Thomas Gresham
C. L.E.Mises D. R.G.Hawtrey

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