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August 01, 2016

Banking Awareness Quiz - Set 82

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  1. Which one of the following approaches to the definition of money gives the widest possible view of money ?
    1. Central bank approach
    2. Conventional approach
    3. Chicago approach
    4. Gurley-Shaw approach
    5. None of these
  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of representative full-bodied money is found in the 'gold certificates' which circulated in the U.S. A. before being withdrawn from circulation in :
    1. 1925
    2. 1927
    3. 1929
    4. 1933
    5. None of these
  3. Which of the following is not a function of money ?
    1. Medium of exchange
    2. Unit of account
    3. Standard of deferred payments
    4. Stabilisation of price level
    5. None of these
  4. Money has been defined as 'that by delivery of which debt contracts and price contracts are discharged, and in the shape of which general purchasing power is held'. Whose definition is this ?
    1. G. Crowther
    2. D. H. Robertson
    3. J. M. Keynes
    4. George N. Halm
    5. None of these
  5. Fiat money refers to ?
    1. Credit money
    2. Legal money
    3. Full-bodied money
    4. International money
    5. None of these
  6. Which one of the following is an example of quasi-money or near-money ?
    1. Bills of exchange
    2. Cheques
    3. Bank notes
    4. Coins
    5. None of these
  7. When the commodity value of money and its value as money are equal, it is called ?
    1. Token money
    2. Full-bodied money
    3. Quasi-money
    4. Fiat money
    5. None of these
  8. The limited legal-tender money stands for that component of money which :
    1. Is issued in a limited amount
    2. Is legal tender for payment upto a certain maximum amount
    3. Is legal tender in specified areas
    4. Is to be used in specific transactions
    5. None of these
  9. As compared to the classical theory, which function of money was stressed more in the Keynesian theory ?
    1. Unit of account
    2. Medium of exchange
    3. Standard of deferred payments
    4. Store of value
    5. None of these
  10. 'Bad money drives good money out of circulation'. With whose name is this law associated ?
    1. J. M. Keynes
    2. Thomas Gresham
    3. L. E. Mises
    4. R. G. Hawtrey
    5. None of these
  11. Identify the country which was the first to adopt the gold standard ?
    1. UK
    2. France
    3. Germany
    4. USA
    5. None of these
  12. During which decade of the nineteenth century did most European countries adopt the gold standard ?
    1. Sixties
    2. Seventies
    3. Eighties
    4. Nineties
    5. None of these
  13. When did the UK finally abandon the gold standard ?
    1. 1925
    2. 1929
    3. 1931
    4. 1936
    5. None of these
  14. Who is generally regarded as the founder of the Modern Quantity Theory of Money ?
    1. J. M. Keynes
    2. Milton Friedman
    3. M. L. Bursten
    4. Don Patinkin
    5. None of these
  15. The Quantity Theory of Money establishes the relationship between quantity of money in an economy and the level of :
    1. Employment
    2. National income
    3. Prices
    4. Savings
    5. None of these
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