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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?

The system works smoothly Signup and view all the answers

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

To allow students to realize the social situation in which different forms of money were used Signup and view all the answers

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

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

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

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

What is the stock of money made up of?

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

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

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. 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?

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