Which of the following function does money serve when used to purchase or sell different goods and services? (a) Store of value ; (b) Medium of exchange ; (c) Standard of value ; (d) Display of power

Which of the following function does money serve when used to purchase or sell different goods and services? (a) Store of value ; (b) Medium of exchange ; (c) Standard of value ; (d) Display of power
by

1 Answer

Answer :

(b) Medium of exchange ;
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Which of the following function does money serve when used to measure the prices of different goods and services? (a) Store of value ; (b) Medium of exchange ; (c) Standard of value ; (d) Display of power

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Last Answer : (c) Standard of value ;

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Last Answer : (a) Final manufactured goods and services ;

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Last Answer : (c) The total value of goods and services measured at current prices

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Last Answer : (a) Needs ;

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Reverse Repo transaction means (a) Sale of securities by the holder to the investor with the agreement to purchase them at a predetermined rate and date (b) Sale or purchase of securities by the holder to the investor with the commitment to sell or purchase them at a predetermined rate and date (c) Sale and purchase of securities by the holder to the investor with the agreement to purchase them at the prevailing rate and date (d) Sale of securities by the holder to the investor with the agreement to purchase them at market driven rate

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Last Answer : (b) Sale or purchase of securities by the holder to the investor with the commitment to sell or purchase them at a predetermined rate and date

1. Which of the following IS a function of money? a. medium of exchange b. store of value c. unit of accounting d. all of the above

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Which of the following statement is true? (a) Value added = total sales + closing stock of finished goods – opening stock of finished goods – total expenditure on raw material – intermediate goods (b) Value added = total sales + closing stock of finished goods and semi finished goods – total expenditure on raw material – intermediate goods (c) Value added = total sales + closing stock of finished goods and semi-finished goods-opening stock of finished goods and semi finished goods-total expenditure on raw material (d) Value added = total sales + closing stock of finished goods and semi finished goods – opening stock of finished goods and semi finished goods – total expenditure on raw material – intermediate goods.

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NDP does not include (a) Payments made for income taxes ; (b) Depreciation allowances ; (c) Undistributed profits; (d) The value added from intermediate goods.

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Which of the following is near money? (a) Bill of exchange ; (b) Saving bonds ; (c) Gilt edged securities ; (d) All the three

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The quantity of a commodity that an individual is willing to purchase over a specified period of time is a function of except ………. (a) Price of the commodity ; (b) Price of the competitive products; (c) His disposal income ; (d) Price of factor of production

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The quantity of a commodity which an individual is willing to purchase over a specific period of time is a function of (a) Price of the product ; (b) Disposal income ; (c) Taste and price of other commodities; (d) All the three

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If RBI wants to decrease the money supply in order to check inflation it will (a) Sell bonds ; (b) Increase CRR ; (c) Hike bank rate ; (d) All or any of the above three

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Last Answer : ; (d) All or any of the above three

Implicit cost refers to ……………… (a) Value of inputs owned by the firm and used in its own manufacturing process (b) Value of input or services purchased from outside and used in its own manufacturing process ; (c) Value of inputs owned by the firm and sold to others ; (d) Value of inputs or services for which no payments were made to outside

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Last Answer : (d) Value of inputs or services for which no payments were made to outside 

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If someone keeps some money for bad days, this demand for money is known by ……. motive of money (a) Speculative ; (b) Transaction ; (c) Precautionary ; (d) Store

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Which of the following is an example of an intermediate goods. (a) A Tata Indica sold by a dealer of second hand car ; (b) Steel and cement used to construct a flyover ; (c) Farming crop purchased by FCI (d) All the three

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Stock of both man made goods as well as natural resources like capital is called – (a) National wealth ; (b) National stock ; (c) No less no gain level ; (d) All the three

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Last Answer :  (b) National stock ;

Change in price of the goods cause (a) Change in quantity demanded ; (b) Shift in demand curve ; (c) Change in price; (d) No effect on quantity demanded

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Last Answer : (a) Change in quantity demanded ;

Change in consumers tastes and preference causes – of the particular goods (a) Change in quantity demanded ; (b) Shift in demand curve ; (c) Change in price ; (d) No effect on quantity demanded

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A goods can be considered a normal goods in economics if increase in disposal income of the consumer causes (a) An increase in demand ; (b) No change in demand ; (c) Decrease in demand ; (d) Less than proportionate change in demand

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Last Answer : (a) An increase in demand ;

A goods can be considered inferior goods in economics if increase in disposal income of the consumer causes (a) An increase in demand ; (b) No change in demand ; (c) Decrease in demand ; (d) Less than proportionate change in demand

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Under the law of demand ceteris paribus is/are (a) Price of other goods ; (b) Disposal income ; (c) Tastes and preferences ; (d) All the three

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Last Answer : (d) All the three

Market demand curve for a commodity is (a) Horizontal summation of the individual demand curve for the commodity; (b) Summation of individual demand curve for 3 years; (c) Demand curve of complementary goods ; (d) Demand curve of supplementary goods

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Last Answer : (a) Horizontal summation of the individual demand curve for the commodity; 

Tea and coffee are (a) Complementary goods ; (b) Alternative goods ; (c) Unrelated goods ; (d) None of these

Description : Tea and coffee are (a) Complementary goods ; (b) Alternative goods ; (c) Unrelated goods ; (d) None of these 

Last Answer :  (b) Alternative goods ; 

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Last Answer :  (d) All the three

According to traditional approach the factor responsible for operation of downward slope of demand curve are (a) Change in number of consumers ; (b) Law of decreasing marginal utility (c) Alternative uses of goods ; (d) All the three

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Sugar and tea are …………… goods (a) Complementary ; (b) Prefect substitute of each other ; (c) Both ; (d) Unrelated

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Last Answer : (a) Complementary ;

Complementary goods are those which are …………… (a) Consumed simultaneously ; (b) Close competitive ; (c) Both ; (d) Unrelated

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Last Answer : (a) Consumed simultaneously ;

The supply of goods means …………… (a) Quantity offered for sale at a given price and time ; (b) Quantity produced by the manufacturer ; (c) Quantity available with the supplier (d) Consumers disposal income

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Last Answer : (a) Quantity offered for sale at a given price and time ;

Which of these is not a factor of quantity supplied (a) Price of the goods ; (b) Price of the related other goods; (c) Cost of production ; (d) Consumers disposal income

Description : Which of these is not a factor of quantity supplied (a) Price of the goods ; (b) Price of the related other goods; (c) Cost of production ; (d) Consumers disposal income

Last Answer : ; (d) Consumers disposal income

Which of these will have highly inelastic supply curve (a) Perishable goods ; (b) Consumer durables goods; (c) Items of elite class consumption ; (d) All the three

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Last Answer : (a) Perishable goods ;

Which of these is not a determinant of aggregate supply (a) Quantity demanded ; (b) Price of the product under consideration ; (c) Relative price of other goods ; (d) Future expectations about prices

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Last Answer : (a) Quantity demanded ;

Change in cost of production of the concerned goods causes (a) The demand curve to shift ; (b) The supply curve to shift ; (c) Increase in quantity demanded; (d) Decrease in quantity supplied

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Last Answer : (b) The supply curve to shift ;

The cross elasticity of substitute goods is generally (a) > 1 ; (b) < 1 ; (c) < 0 ; (d) > 0

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The cross elasticity of complementary goods is generally (a) > 1 ; (b) < 1 ; (c) < 0 ; (d) = 0

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Last Answer :  (c) < 0 ;

The income elasticity of demand of normal goods is generally (a) >1 ; (b) < 1 ; (c) < 0 ; (d) > 0

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Last Answer : ; (d) > 0

The income elasticity of demand of inferior goods is generally (a) >1 ; (b) < 1 ; (c) < 0 ; (d) = 0

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