Money and Credit: History and Modern Forms
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Questions and Answers

What is the central idea of the first part of the chapter?

  • The history of money and its various forms
  • The social situation in which different forms of money were used
  • The modern forms of money and their link to the banking system (correct)
  • The functions of money and its role in the banking system

    • What constitutes the stock of money according to the chapter?

  • Currency held by the public and demand deposits held by the banks (correct)
  • Currency held by the government and demand deposits held by the public
  • Demand deposits held by the government and currency held by the public
  • Demand deposits held by the public and currency held by the banks

    • What event in India during November 2016 relates to invalidation and replacement of currency notes?

  • Increase in the denomination of currency notes
  • Reduction in the circulation of coins
  • Declaration of Rs. 500 and Rs. 1,000 as invalid currency notes (correct)
  • Introduction of new forms of electronic money

    • What was the purpose of allowing students to explore the modern forms of money spreading with computerization of the banking system?

    <p>To enable students to explore on their own</p> Signup and view all the answers

    What aspect is not covered in the chapter, but may be discussed if desired?

    <p>'Creation of money' (money multiplier) or the backing of the modern system</p> Signup and view all the answers

    What is the central idea of the first part of the chapter?

    <p>Understanding the link between modern forms of money and the banking system</p> Signup and view all the answers

    What does the stock of money consist of, according to the chapter?

    <p>Currency held by the public and demand deposits with the banks</p> Signup and view all the answers

    What aspect is not covered in the chapter but may be discussed if desired?

    <p>Creation of money (money multiplier) and the backing of the modern system</p> Signup and view all the answers

    What was the event in India during November 2016 related to invalidation and replacement of currency notes?

    <p>Demonetization of currency notes in denominations of Rs. 500 and Rs. 1,000</p> Signup and view all the answers

    What is the purpose of allowing students to explore the modern forms of money spreading with computerization of the banking system?

    <p>To encourage independent research and critical thinking skills</p> Signup and view all the answers

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