Money and Credit

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Questions and Answers

What was declared invalid by the government in India during November 2016?

  • Demand deposits held with the banks
  • Currency notes in the denomination of Rs. 500 and Rs. 1,000 (correct)
  • All currency notes in circulation
  • Fixed deposits held with the banks

What does the stock of money consist of?

  • Currency held by the public and the fixed deposits held with the banks
  • Currency held by the public and the demand deposits held with the banks (correct)
  • Currency held by the government and the demand deposits held with the banks
  • Currency held by the government and the fixed deposits held with the banks

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

  • The social situation in which different forms of money were used
  • The history of money and its various forms
  • The opportunities for students to explore newer forms of money
  • The link between modern forms of money and the banking system (correct)

What does the government need to ensure regarding the stock of money?

<p>The system works smoothly (D)</p> Signup and view all the answers

What is the purpose of capturing the element of money for the students?

<p>To allow students to realize the social situation in which different forms of money were used (C)</p> Signup and view all the answers

What is the focus of the first part of the chapter on money and credit?

<p>The focus of the first part of the chapter is on the link between modern forms of money and the banking system.</p> Signup and view all the answers

What opportunities does the present situation in India offer to students regarding money?

<p>The present situation in India offers opportunities for students to explore newer forms of money spreading with the computerization of the banking system.</p> Signup and view all the answers

What is the stock of money made up of?

<p>The stock of money consists of currency held by the public and the demand deposits that they hold with the banks.</p> Signup and view all the answers

What was the impact of the government declaring certain currency notes invalid in India in November 2016?

<p>The impact was that the currency notes in the denomination of Rs. 500 and Rs. 1,000 were declared invalid and had to be replaced by new currency.</p> Signup and view all the answers

What is the purpose of not delving into a formal discussion of the ‘functions of money’ in the classroom?

<p>The purpose is to let the functions of money come up as questions during the course of the lesson.</p> Signup and view all the answers

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