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Questions and Answers
What is the central idea of the first part of the chapter on money and credit?
What is the central idea of the first part of the chapter on money and credit?
- The link between modern forms of money and the banking system (correct)
- The history of money and its various forms
- The purpose of capturing the element of money for students
- The social situation in which different forms of money were used
What does the stock of money consist of according to the chapter?
What does the stock of money consist of according to the chapter?
- Foreign currency reserves held by commercial banks
- Gold reserves held by the central bank
- Currency held by the government
- Currency held by the public and their bank deposits (correct)
What was the effect of the Indian government declaring Rs. 500 and Rs. 1,000 currency notes as invalid in November 2016?
What was the effect of the Indian government declaring Rs. 500 and Rs. 1,000 currency notes as invalid in November 2016?
- Decrease in the use of modern forms of money
- Replacement of the old currency notes with new ones (correct)
- Smooth functioning of the banking system
- Increase in the value of the invalid currency notes
What opportunities are offered to students in India due to the computerization of the banking system?
What opportunities are offered to students in India due to the computerization of the banking system?
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What aspect of money may be discussed further if desired by the teacher, despite not being covered in the chapter?
What aspect of money may be discussed further if desired by the teacher, despite not being covered in the chapter?
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