Multi-choice 17 Question 1. Who argued that Keynes’s theory of equilibrium with involuntary unemployment is a special case of the general equilibrium model, augmented to include money ? Answers Option 1 Gurley Option 2 Leijonhufvud Option 3 Patinkin Option 4 Shaw Feedback Wrong choice Incorrect option Correct selection Wrong choice Solution Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Question 2. Who stressed the fundamental uncertainty about the future, which enters the choice between holding money balances and commodities, which can lead to unemployment? Answers Option 1 R.W. Clower Option 2 Patinkin Option 3 R. Solow Option 4 J. Tobin Feedback Correct selection Wrong choice Incorrect option Wrong choice Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Question 3. Who argued that under uncertainties, the choice of consumer between money to hold and commodity purchases are likely to give rise to excess demands and price changes which convey wrong signals to producers ? Answers Option 1 Patinkin Option 2 R. Solow Option 3 Paul Samuelson Option 4 A Leijonhufvud Feedback Wrong choice Incorrect option Wrong choice Correct selection Solution Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Question 4. Money is said to be neutral when Answers Option 1 Changes in money supply lead to increase in national income Option 2 Changes in money supply do not have any effect on real sector Option 3 Changes in money supply lead to decrease in national income Option 4 None of the above Feedback Wrong choice Correct selection Incorrect option Wrong choice Solution Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Question 5. Narrow definition of money is Answers Option 1 M4 Option 2 M3 Option 3 M2 Option 4 M1 Feedback Wrong choice Incorrect option Wrong choice Correct selection Solution Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Question 6. Broad definition of money is Answers Option 1 M1 Option 2 M2 Option 3 M3 Option 4 M4 Feedback Wrong choice Incorrect option Correct selection Wrong choice Solution Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Question 7. Which types of money definition is frequently used by policy makers ? Answers Option 1 M1 and M3 Option 2 M2 and M3 Option 3 M1 and M2 Option 4 M2 and M4 Feedback Correct selection Wrong choice Incorrect option Wrong choice Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Question 8. M1 + Time deposit in commercial banks is called Answers Option 1 M2 Option 2 M3 Option 3 M4 Option 4 None of the above Feedback Wrong choice Correct selection Incorrect option Wrong choice Solution Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Question 9. M4,+ Total deposits with the post office Answers Option 1 M₂ Option 2 M1 Option 3 M3 Option 4 None of the above Feedback Wrong choice Incorrect option Correct selection Wrong choice Solution Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Question 10. In reality, money supply is Answers Option 1 Exogenous Option 2 Endogenous Option 3 Both of the above Option 4 None of the above Feedback Wrong choice Incorrect option Correct selection Wrong choice Solution Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback)
Multi-choice 17 Question 1. Who argued that Keynes’s theory of equilibrium with involuntary unemployment is a special case of the general equilibrium model, augmented to include money ? Answers Option 1 Gurley Option 2 Leijonhufvud Option 3 Patinkin Option 4 Shaw Feedback Wrong choice Incorrect option Correct selection Wrong choice Solution Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Question 2. Who stressed the fundamental uncertainty about the future, which enters the choice between holding money balances and commodities, which can lead to unemployment? Answers Option 1 R.W. Clower Option 2 Patinkin Option 3 R. Solow Option 4 J. Tobin Feedback Correct selection Wrong choice Incorrect option Wrong choice Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Question 3. Who argued that under uncertainties, the choice of consumer between money to hold and commodity purchases are likely to give rise to excess demands and price changes which convey wrong signals to producers ? Answers Option 1 Patinkin Option 2 R. Solow Option 3 Paul Samuelson Option 4 A Leijonhufvud Feedback Wrong choice Incorrect option Wrong choice Correct selection Solution Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Question 4. Money is said to be neutral when Answers Option 1 Changes in money supply lead to increase in national income Option 2 Changes in money supply do not have any effect on real sector Option 3 Changes in money supply lead to decrease in national income Option 4 None of the above Feedback Wrong choice Correct selection Incorrect option Wrong choice Solution Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Question 5. Narrow definition of money is Answers Option 1 M4 Option 2 M3 Option 3 M2 Option 4 M1 Feedback Wrong choice Incorrect option Wrong choice Correct selection Solution Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Question 6. Broad definition of money is Answers Option 1 M1 Option 2 M2 Option 3 M3 Option 4 M4 Feedback Wrong choice Incorrect option Correct selection Wrong choice Solution Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Question 7. Which types of money definition is frequently used by policy makers ? Answers Option 1 M1 and M3 Option 2 M2 and M3 Option 3 M1 and M2 Option 4 M2 and M4 Feedback Correct selection Wrong choice Incorrect option Wrong choice Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Question 8. M1 + Time deposit in commercial banks is called Answers Option 1 M2 Option 2 M3 Option 3 M4 Option 4 None of the above Feedback Wrong choice Correct selection Incorrect option Wrong choice Solution Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Question 9. M4,+ Total deposits with the post office Answers Option 1 M₂ Option 2 M1 Option 3 M3 Option 4 None of the above Feedback Wrong choice Incorrect option Correct selection Wrong choice Solution Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Question 10. In reality, money supply is Answers Option 1 Exogenous Option 2 Endogenous Option 3 Both of the above Option 4 None of the above Feedback Wrong choice Incorrect option Correct selection Wrong choice Solution Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback)
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