(A) It reduces purchasing power of money

(B) It favours lenders and penalizes borrowers

(C)It redistributes income in favour of variable income earners

(D)It decreases social welfare

(A) Narrow

(B)Broad

(C)Liquid

(D)Least liquid

(A) Gold standard and silver standard

(B)Bimetallism and trimetallism

(C)Monometallism and bimetallism

(D)Commodity standard and paper-money standard

(A) The gold standard

(B)Bimetallism

(C)Commodity standards

(D)Fiat-money standards

(A) Unit of account

(B)Medium of exchange

(C)Store of value

(D)Intermediation

(A) Monetary policy rule

(B)Okun’s law

(C)Gresham’s law

(D)The paradox of thrift

(A) Deflation

(B)Inflation

(C)Stable prices

(D)Unemployment

(A) Be legally accepted as a medium of exchange

(B)Be commonly accepted by the public as a medium of exchange

(C)Have a physical existence

(D)Be made out of or fully backed by a precious metal

(A) M1

(B)M2

(C)M3

(D)M4

(A) In the absence of a double coincidence of wants

(B)When many different product are available in the economy when money is relatively available to establish relative prices

(C)When money is relatively available to establish relative prices

(D)When each trader has what the other wants and wants what the other has