What is referred by the hard currency ?
Correct answer: C. Both of them
- A. Any currency backed by gold or silver bullion rather than credit
- B. Stable currency value of which does not fluctuate greatly
- C. Both of them
- D. None of them
Explanation
Hard currency generally refers to a stable, widely accepted currency whose value does not fluctuate greatly and which is readily convertible. The term historically also carried a metallic or gold-backed sense, so both a and b reflect recognized usage.
Report an error
The more specific you are, the faster it gets fixed. A source beats an opinion.
Prefer email? [email protected]
About Macroeconomics
The economy is studied as a whole through national income, gross domestic product, inflation, unemployment, economic growth and business cycles. Coverage includes aggregate demand and supply, consumption and investment, money and banking, fiscal and monetary policy, exchange rates and balance of payments, which distinguishes macroeconomics from the study of individual markets.
Practise Macroeconomics
1,499 free Macroeconomics MCQs from Economics, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Discussion
Stuck on an option, or know a faster way to get there? Ask or explain it here.
No comments yet. Be the first to explain this one.
Exams that ask Economics questions like this
Economics is on 3 papers prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for every one of them.
More Macroeconomics questions
Because of the decrease in the value of money, there comes exaggerated increase in incomes and prices. How is termed this system ?
Total number of adults currently employed or actively seeking work in all economic sectors is known as ?
Bank issued a document that authorizes the bearer to receive money from one of its foreign branches or from another bank abroad. What such document is called ?
Which of the following is known as foreign exchange ?
In Western Europe in 9th C, originated military and social system in which a nobleman would grant the use of land to servant in return for service which is often military, and duty, Name the system ?
Name the scale for measuring the average share price and percentage change of 30 major US industrial companies ?