Podcast
Questions and Answers
How does Prof. Walker define money?
How does Prof. Walker define money?
- Anything which the state declares as money
- The means of valuation and payment
- Anything which is generally acceptable in exchange of goods and services or in repayment of debts (correct)
- A unit of account, a means of payment, and a store of value
According to Professor Coleborn, what is money?
According to Professor Coleborn, what is money?
- Anything which the state declares as money
- The means of valuation and payment (correct)
- Anything which is generally acceptable in exchange of goods and services or in repayment of debts
- A unit of account, a means of payment, and a store of value
What is the fundamental characteristic of money?
What is the fundamental characteristic of money?
- Its declaration as money by the state
- Its general acceptability by the people in exchange of goods and services or in repayment of debts (correct)
- Its ability to store value over time
- Its physical form such as coins or paper notes
What is metallic money?
What is metallic money?
What makes defining money in exact terms difficult?
What makes defining money in exact terms difficult?
How do some economists define money in legal terms?
How do some economists define money in legal terms?
What is the characteristic of full bodied coins?
What is the characteristic of full bodied coins?
What type of money refers to notes made of paper issued by the central bank or government?
What type of money refers to notes made of paper issued by the central bank or government?
What type of money has a face value more than the value of the paper?
What type of money has a face value more than the value of the paper?
What is the characteristic of convertible money?
What is the characteristic of convertible money?
Which type of money can be easily converted into metallic (gold & silver) form on demand?
Which type of money can be easily converted into metallic (gold & silver) form on demand?
What is the characteristic of token money?
What is the characteristic of token money?
Which type of money is fully backed by equal metallic reserve?
Which type of money is fully backed by equal metallic reserve?
What type of money has a face value more than the value of the paper?
What type of money has a face value more than the value of the paper?
What type of money can be converted into gold, silver i.e. metallic reserves?
What type of money can be converted into gold, silver i.e. metallic reserves?
What type of money can be converted into gold, silver i.e. metallic reserves?
What type of money can be converted into gold, silver i.e. metallic reserves?
