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Whether the following statements are true or falseWhether the following statements are true or false
1.1. ““ Money is what money does” said by wMoney is what money does” said by walker alker
2.2. Money is in the normal sense, means currencyMoney is in the normal sense, means currency
3.3. Measure of value is an essential function of moneyMeasure of value is an essential function of money
11.8 11.8 Key Key conceptsconcepts
Medium of exchangeMedium of exchange
Measure of valueMeasure of value
Store of valueStore of value
Differed PaymentsDiffered Payments
Representative MoneyRepresentative Money
Fiat moneyFiat money
11.9 11.9 Self Self Assessment Assessment questionsquestions
11 Define money and explain its main functionsDefine money and explain its main functions
2. Explain the various types of money and briefly mention their characteristics2. Explain the various types of money and briefly mention their characteristics
4.4. Distinguish between Distinguish between Convertible Convertible and inconvertible and inconvertible paper moneypaper money
5.5. What is Grasham’s lawWhat is Grasham’s law
11.10 11.10 Answers to Answers to check your check your progressprogress
1.1. false false 2. 2. False False 3 3 TrueTrue
11.11 Suggested Readings11.11 Suggested Readings
Ackley Gardner : Macro economic theoryAckley Gardner : Macro economic theory
Whether the following statements are true or falseWhether the following statements are true or false
1.1. ““ Money is what money does” said by wMoney is what money does” said by walker alker
2.2. Money is in the normal sense, means currencyMoney is in the normal sense, means currency
3.3. Measure of value is an essential function of moneyMeasure of value is an essential function of money
11.8 11.8 Key Key conceptsconcepts
Medium of exchangeMedium of exchange
Measure of valueMeasure of value
Store of valueStore of value
Differed PaymentsDiffered Payments
Representative MoneyRepresentative Money
Fiat moneyFiat money
11.9 11.9 Self Self Assessment Assessment questionsquestions
11 Define money and explain its main functionsDefine money and explain its main functions
2. Explain the various types of money and briefly mention their characteristics2. Explain the various types of money and briefly mention their characteristics
4.4. Distinguish between Distinguish between Convertible Convertible and inconvertible and inconvertible paper moneypaper money
5.5. What is Grasham’s lawWhat is Grasham’s law
11.10 11.10 Answers to Answers to check your check your progressprogress
1.1. false false 2. 2. False False 3 3 TrueTrue
11.11 Suggested Readings11.11 Suggested Readings
Ackley Gardner : Macro economic theoryAckley Gardner : Macro economic theory
