Money as a Medium of Exchange Quiz
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Questions and Answers

What is the term for the situation when both parties agree to sell and buy each other's commodities at the same time in the trade?

  • Mutual barter agreement
  • Commodity exchange alignment
  • Simultaneous trade pact
  • Double coincidence of wants (correct)

    • What is money referred to as when it serves as an intermediary in the exchange process?

  • Barter commodity
  • Medium of exchange (correct)
  • Trade facilitator
  • Financial asset

    • What were the early forms of metallic coinage used as currency in India?

  • Nickel, zinc, and aluminum coins
  • Platinum, palladium, and titanium coins
  • Gold, silver, and copper coins (correct)
  • Bronze, iron, and steel coins

    • Who issues currency notes on behalf of the Indian government?

    <p>Reserve Bank of India</p> Signup and view all the answers

    What are the current kinds of money that are inextricably related to the modern banking system's operation?

    <p>Currency and deposits</p> Signup and view all the answers

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