Class XII Economics Quiz: Money and Banking
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1. What is the primary function of money?
Store of value · Medium of exchange · Unit of account · Standard of deferred payment
2. Which of the following is not a characteristic of money?
Durability · Divisibility · Scarcity · Portability
3. What type of money has intrinsic value?
Fiat money · Commodity money · Bank money · Electronic money
4. Which institution is responsible for regulating the money supply in India?
Ministry of Finance · Reserve Bank of India · Securities and Exchange Board of India · Indian Banks' Association
5. What does the term 'liquidity' refer to in banking?
The ability to convert assets into cash · The interest rate on deposits · The total amount of money in circulation · The profitability of a bank
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