Question : In an inflationary situation, which of the following statements is false for a country?

Option 1: Profit rises faster than wages

Option 2: The value of money falls

Option 3: The cost of living rises

Option 4: The country's exports become more competitive

Question : The law of demand states that when _____.

Option 1: income and price rise demand rises

Option 2: income rises demand rises

Option 3: price rises demand rises

Option 4: price falls demand rises

Question : The cost price of an article is INR 350. If the profit percentage is 35%, then what is the value of profit?

Option 1: INR 145.6

Option 2: INR 122.5

Option 3: INR 135.6

Option 4: INR 112.8

Question : Which of the following statements is incorrect?

Option 1: Fiat money is issued without any backing of an equivalent amount of gold or silver

Option 2: The money Multiplier is the ratio of the money supply to the reserve money

Option 3: In Time Deposits, money can be withdrawn only after maturity or with a penalty before maturity

Option 4: Vault cash is also a part of the money supply

Question : Vishal sells a bag at a profit of 40%. If Vishal's profit is INR 880, then what is the cost price of the bag?

Option 1: INR 2,000

Option 2: INR 2,450

Option 3: INR 1,900

Option 4: INR 2,200