Podcast
Questions and Answers
Which economist defined money as 'anything which is widely accepted in payments for goods or in discharge of other kinds of business obligations'?
Which economist defined money as 'anything which is widely accepted in payments for goods or in discharge of other kinds of business obligations'?
- Juno Moneta
- Walker
- Robertson (correct)
- Seligman
According to Seligman's definition, what is money?
According to Seligman's definition, what is money?
- Anything which is widely accepted in payments for goods or in discharge of other kinds of business obligations (correct)
- The name of Goddess 'Juno Moneta'
- Built on scarce/valuable natural resources
- What money does
What is the oldest type of money?
What is the oldest type of money?
- Fiduciary Money
- Fiat Money
- Commercial Bank Money
- Commodity Money (correct)
Which component of money supply is created by commercial banks?
Which component of money supply is created by commercial banks?
What is the term used to describe the deposits created by commercial banks?
What is the term used to describe the deposits created by commercial banks?
What does Gresham's law mean when it says 'cheap money drives out dear money'?
What does Gresham's law mean when it says 'cheap money drives out dear money'?
According to Gresham's law, what happens when bad money and good money circulate together?
According to Gresham's law, what happens when bad money and good money circulate together?
What is the main source of credit creation for commercial banks?
What is the main source of credit creation for commercial banks?
What does the Quantity Theory of Money explain?
What does the Quantity Theory of Money explain?
According to Gresham's law, what happens when bad money and good money circulate together?
According to Gresham's law, what happens when bad money and good money circulate together?
What does the Quantity Theory of Money explain?
What does the Quantity Theory of Money explain?
Which economist gave an equation to determine the value of money in the Quantity Theory of Money?
Which economist gave an equation to determine the value of money in the Quantity Theory of Money?
Which equation is mentioned in the text?
Which equation is mentioned in the text?
What does the text say about the process of spending money?
What does the text say about the process of spending money?
What does the text say about Fisher's equation?
What does the text say about Fisher's equation?
