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This online test contains MCQs about following topics:
. Barter system . Evolution of money . Definition of moeny . Assumptiond of quantity theory of money . Criticism on quantity theory of money . Inflation . Deflation . Measures to control inflation . Measures to control deflation
ICOM Part 1 Economics Ch 10 Test
ICOM Part 1 English Medium Subjects
ICOM Part 1 Urdu Medium Subjects
MCQ's Test For Chapter 10 "Principles of Economics Icom Part 1 English Medium Chapter 10 Online Test"
Try The MCQ's Test For Chapter 10 "Principles of Economics Icom Part 1 English Medium Chapter 10 Online Test"
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Total Questions15
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Time Allowed20
Principles of Economics Icom Part 1 English Medium Chapter 10 Online Test
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Question # 1
Notes and coins are legal tender money because
Question # 2
What effects are expected on the purchasing power of money during deflation
Question # 3
One of the following is not the assumption of quantity theory of money
Question # 4
According to quantity theory of money, if quantity of money is doubled then prices are doubled while value of money is
Question # 5
Which economist said that the term demand for money should be used instead of circulation of money
Question # 6
One of the following is not the method to control deflation
Question # 7
Net National product is equal to
Question # 8
"Anything which is generally accepted as a medium of exchange and also performs the functions of standard of value and a store of value is money"
"Anything which is generally accepted as a medium of exchange and also performs the functions of standard of value and a store of value is money"
This definition of money is stated by
Question # 9
One of the following is not fiscal measure to control inflation
Question # 10
Which one of the following does not exist during deflation
Question # 11
Cheque, bill of exchange etc are
Question # 12
Disadvantages of paper money are
Question # 13
The paper notes which can not be converted in gold, silver, or foreign exchange, are called
Question # 14
Inflation is useful for
Question # 15
Prof Fisher presented quantity theory of money in the form of an equation in
11th Principle of Economics Chapter 10 Test
Here you can prepare 11th Principle of Economics English Medium Chapter 10 Money Test. Click the button for 100% free full practice test.
Top Scorers Of Chapter 10 "Principles of Economics Icom Part 1 English Medium Chapter 10 Online Test" MCQ`s Test
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M Minahil Asif 07 - Jun - 2024 01 Min 21 Sec 15/15 -
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A Ali Raza 02 - Nov - 2026 02 Min 48 Sec 13/15 -
S Subtain Ahmed Raza 22 - Jul - 2023 03 Min 31 Sec 13/15 -
M Muhammad Hammad Shekhani 28 - Jun - 2021 10 Min 43 Sec 13/15 -
S shafaqat ali 14 - Feb - 2018 03 Min 39 Sec 12/15 -
Z Zafar Ali 30 - May - 2024 00 Min 11 Sec 11/15 -
E Elsa 04 - Mar - 2021 02 Min 26 Sec 11/15 -
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A Aiman 12 - May - 2018 07 Min 46 Sec 11/15 -
M Manan Malik 12 - Jan - 2022 02 Min 07 Sec 10/15
ICom Part 1 Principles of Economics ( English Medium) Chapter 10 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | MRP curve of a factor represents: |
A. Demand of factors
B. Supply of factors
C. Price of factors
D. Both a and c
|
| 2 | One of the following is not the assumption of quantity theory of money |
A. Velocity of circulation of legal money should not change
B. Velocity of Circulation of credit money should not change
C. Quantity of hoardings should not change
D. Quantity of goods and services should go on changing
|
| 3 | Unit of account money in Pakistan is |
A. Rial
B. Rupee
C. Dollar
D. Pound
|
| 4 | All Pakistani coins are |
A. Token money
B. Standard money
C. Convertible money
D. Inconvertible money
|
| 5 | One of the following is not the difficulty of the barter system |
A. Indivisibility of goods
B. Lack of common measure of value
C. Double coincidence of wants
D. Lack of store of value
|
| 6 | Which is considered as a transfer payment |
A. wages
B. salaries
C. prices
D. unemployment allowances
|
| 7 | It was impossible under barter system |
A. Lack of coincidence of wants
B. Lack of common measure of value
C. Divisibility of some goods in small parts
D. Solution of all the said problems
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| 8 | According to quantity theory of money, if quantity of money is doubled then prices are doubled while value of money is |
A. Doubled
B. One halved
C. Less than one halved
D. Not influenced
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| 9 | ______ is not considered perfect money |
A. Note of ten rupees
B. Note of hundred rupees
C. Piece of silver
D. Note of one thousand rupees
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| 10 | This paper notes which can be converted into gold, silver or foreign exchange are called |
A. Standard money
B. Unlimited legal tender money
C. Convertible paper money
D. Inconvertible paper money
|
Test Questions
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