Question : The relationship between the value of money and the price level in an economy is
Option 1: Direct
Option 2: Inverse
Option 3: Proportional
Option 4: Stable
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Correct Answer: Inverse
Solution : The Correct Answer is Inverse
Price level is the average of the prices of all the goods and services in an economy, and value of money is what one unit of money can buy. As a result, the value of money and the level of prices in an economy are inversely related. The price level changes proportionally in response to changes in the money supply and vice versa.
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Question : A supply function expresses the relationship between
Option 1: price and output
Option 2: price and seller cost
Option 3: price and demand
Option 4: price and consumption
Question : Cross-demand expresses the functional relationship between
Option 1: demand and price of related commodities
Option 2: demand and income
Option 3: demand and price
Option 4: demand and supply
Question : The difference between 24 and the mean proportional of 7 and 63 is:
Option 1: 3
Option 2: 2
Option 3: 5
Option 4: 4
Question : Globalisation means
Option 1: Integration of economy
Option 2: Integration of financial market
Option 3: Integration of the domestic economy with the world economy
Option 4: integration of the various sector of the economy
Question : An Electoral system under which a legislature reflects the strength of the various political parties is called
Option 1: Proportional Representation
Option 2: Direct election style
Option 3: Gallup poll
Option 4: Gerrymandering
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