The exchange of commodities for commodities is called
Barter
Indirect exchange
Asset transformation
Monetary exchange
During inflation
Businessman gain
Wage earners gain
Salaried people gain
Rentiers gain
Currency with the public is known as
M1
M2
M3
M4
Monetary policy is controlled by
Central government
State government
Central bank
Private sector
M3 and M4 measure of money supply is
Narrow
Broad
Liquid
Least liquid
Barter works best
In the absence of a double coincidence of wants
When many different product are available in the economy when money is relatively available to establish relative prices
When money is relatively available to establish relative prices
When each trader has what the other wants and wants what the other has
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
All the above
Bank rate is raised during
Deflation
Inflation
Stable prices
Unemployment
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
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