CSS :: Money Banking and International Trade
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11. |
Identify the country which was the first to adopt the gold standard: |
Answer: Option A
Explanation:
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12. |
During which decade of the nineteenth century did most European countries adopt the gold standard? |
A. |
Sixties |
B. |
Seventies |
C. |
Eighties |
D. |
Nineties |
Answer: Option C
Explanation:
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13. |
When did the UK finally abandon the gold standard? |
Answer: Option C
Explanation:
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14. |
Who is generally regarded as the founder of the Modern Quantity Theory of Money? |
A. |
J.M.Keynes |
B. |
Milton Friedman |
C. |
M.L.Bursten |
D. |
Don Patinkin |
Answer: Option B
Explanation:
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15. |
The Quantity Theory of Money establishes the relationship between quantity of money in an economy and the level of: |
A. |
Employment |
B. |
National income |
C. |
Prices |
D. |
Savings |
Answer: Option C
Explanation:
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16. |
Identify Pigou's cash balances equation: |
A. |
M = Ky + K'A |
B. |
M = KPO |
C. |
M = KR/P |
D. |
M = PKT |
Answer: Option C
Explanation:
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17. |
In the Fisher's equation of exchange MV = PT, what does T denote? |
A. |
Period of time |
B. |
Volume of trade |
C. |
Total money wealth |
D. |
Trend value of general price level |
Answer: Option B
Explanation:
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18. |
Cost-push inflation is caused by: |
A. |
Increase in the quantity of money |
B. |
In-crease in investment |
C. |
Creation of credit money |
D. |
Increase in the prices of inputs |
Answer: Option D
Explanation:
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19. |
Who introduced the concept of the real balance effect? |
A. |
A.C.Pigou |
B. |
Alfred Marshall |
C. |
J.M.Keynes |
D. |
Milton Friedman |
Answer: Option A
Explanation:
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20. |
Which of the following according to Milton Friedman is not a key determinant of the demand for money? |
A. |
Aggregate wealth |
B. |
Precautionary motive |
C. |
Relative rates of return obtainable on different forms of assets |
D. |
Physical non-human capital goods and human capital or wealth |
Answer: Option B
Explanation:
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