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WorksheetsBanking & Financial Institutions - Prelim Quiz 1
Total questions: 12
Worksheet time: 14mins
Money acts as a ______________________ by making it easy for people to compare the value of different goods and services according to a uniform reference point.
medium of exchange
standard of value
build enterprises
Whenever demand for goods is lower than the supply of goods, price increases.
True
False
With the introduction of money, commerce has been decelerated.
True
False
Economic development is the product of economic growth.
True
False
It refers to the accounting record of a country's financial transactions with other countries.
(a)
When the supply of the dollar is greater than the demand for dollars, the exchange rate of the dollar decreases.
True
False
Efficiency is productivity.
True
False
An undersupply of money pushes the price level upward.
True
False
It is a situation where price fluctuations are smooth.
(a)
It is a situation in which those who are able and willing to work can get jobs.
(a)
Why is social equity more relevant than economic efficiency in poor countries?
Why do we have basic economic problems?
