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
What are the modern forms of money?
Currency
Plastic money
Demand deposits
All the above
For an asset to act as money, the asset must
Be legally accepted as a medium of exchange
Be commonly accepted by the public as a medium of exchange
Have a physical existence
Be made out of or fully backed by a precious metal
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
M3 and M4 measure of money supply is
Narrow
Broad
Liquid
Least liquid
Legal tender is the circulating medium under
The gold standard
Bimetallism
Commodity standards
Fiat-money standards
The essential characteristic required before any substance can function as money is that
It be issued by the government
It be backed by a precious metal
The supply of it be unlimited and uncontrolled
People accept it as money
Bank rate is raised during
Deflation
Inflation
Stable prices
Unemployment
A situation marked by rising prices and stagnation in demand is known as
Cost-push inflation
Demand – pull inflation
Stagflation
Wage – push inflation
During inflation
Businessman gain
Wage earners gain
Salaried people gain
Rentiers gain
