Inflation means

(a)

Prices are rising

(b)

Prices are falling

(c)

Value of money is increasing

(d)

Prices are remaining the same

___________inflation occurs when general prices of commodities increases due to increase in production costs such as wages and raw materials.

(a)

Cost-push

(b)

demand pull

(c)

running

(d)

galloping

The study of alternating fluctuations in business activity is referred to in Economics as

(a)

Boom

(b)

Recession

(c)

Recovery

(d)

Trade cycle

When prices are raised drastically(rapidly) we call it

(a)

Galloping inflation

(b)

Mild inflation

(c)

Hyper Inflation

(d)

Deflation

'Inflation is taxation without legislation' was said by______

(a)

Rudi Dorbush

(b)

Adam smith

(c)

Milton Friedman

(d)

Alfred Marshall

Medium of exchange

(1)

Barter system

Goods exchange for goods

(2)

M₁,M₂,M₃ & M₄

Money supply

(3)

CRR

Cash Reserve Ratio

(4)

Functions of money

M₁

(5)

Currency and coins

What is plastic money? Give example.

Define inflation.

What is Stagflation?

Name the categories of the functions of money.

What are the two equations of Fisher's Quantity Theories of Money?

State Cambridge equations of value of money.

Explain disinflation.

What are the four measures of Money Supply?

Explain the history of Barter System.

Write a note on paper currency standard

Describe the phases of Trade cycle.

Explain the Secondary Functions.

Consider M = Rs. 1000. M’ = Rs. 500, V = 3, V’ = 2, T = 4000 goods and Find the value of money using Fisher’s quantity theory of