The two broad monetary standards found in the history of money are
Gold standard and silver standard
Bimetallism and trimetallism
Monometallism and bimetallism
Commodity standard and paper-money standard
What are the modern forms of money?
Currency
Plastic money
Demand deposits
All the above
“Bad money drives good money out of circulation.” This is a statement of
Monetary policy rule.
Okun’s law.
Gresham’s law.
The paradox of thrift
Legal tender is the circulating medium under
The gold standard
Bimetallism
Commodity standards
Fiat-money standards
During inflation
Businessman gain
Wage earners gain
Salaried people gain
Rentiers gain
A situation marked by rising prices and stagnation in demand is known as
Cost-push inflation
Demand – pull inflation
Stagflation
Wage – push inflation
Under the pure gold standard
Circulating notes are fully backed by gold.
The authorities can easily manipulate the money supply
Price stability is difficult to achieve
The power of monetary policy is unlimited
Monetary policy is controlled by
Central government
State government
Central bank
Private sector
A double coincidence of wants is
A condition easily satisfied in a direct exchange economy
A condition not easily satisfied in barter
A desirable property of money
A function of money
A coincidence of wants happens exists when
Two people want the same thing at the same time
One person wants to but two different things at the same time
The individual who has what I want, also wants what I have
