True or false about money and credit

Exercise and reference answers

Questions

1. Statement is true

   Yes

   Statement

   Barter needs a double coincidence of wants.

2. Statement is true

   No

   Statement

   Modern currency is made of precious metal.

3. Statement is true

   Yes

   Statement

   The RBI issues currency notes in India.

4. Statement is true

   No

   Statement

   Banks keep all deposits as cash.

5. Statement is true

   No

   Statement

   The RBI supervises informal lenders.

6. Statement is true

   Yes

   Statement

   A typical SHG has 15 to 20 members.

Instructions

Decide whether each statement is true or false.

Explanation