Question : Which of the following statements is/are true about currency notes?
i. They do not have intrinsic value.
ii. They can be called fiat money.
iii. They are not legal tenders.
Option 1: Only ii
Option 2: Only i
Option 3: Only i and ii
Option 4: Only ii and iii
New: SSC CHSL tier 1 answer key 2024 out | SSC CHSL 2024 Notification PDF
Recommended: How to crack SSC CHSL | SSC CHSL exam guide
Don't Miss: Month-wise Current Affairs | Upcoming government exams
New: Unlock 10% OFF on PTE Academic. Use Code: 'C360SPL10'
Correct Answer: Only i and ii
Solution : The correct answers are Only i and ii.
Currency notes, being fiat money, derive their value not from inherent worth but from the trust people place in the currency and the authority issuing it. Currency notes, such as fiat money, do not have intrinsic value.
Fiat money is a currency that the government has declared as legal tender, but it is not backed by a physical commodity (like gold or silver). Currency notes are examples of fiat money.
Candidates can download this e-book to give a boost to thier preparation.
Result | Eligibility | Application | Admit Card | Answer Key | Preparation Tips | Cutoff
Question : Which of the following statements is/are not correct?
I. Force per unit volume is called pressure. II. Liquids can exert pressure on the walls of containers. III. Force acting on an object can cause a change in its state of motion but not its shape.
Question : Which of the following statements is correct about the value of money?
i. It is directly related to the price level.
ii. It is not related to the price level.
iii. It is indirectly related to the price level.
Question : Which of the following statements is/are correct about speculative demand for money?
i. It is a Perfectly interesting elastic. ii. It is Relatively interest-elastic. iii. It is Perfectly interest inelastic. iv. It is Relatively interest inelastic.
Question : Which of the following is a type of connective tissue?
I. Blood II. Bone III. Ligament
Question : Which of the following statements is/are correct concerning income or output? i. Income or output are flows. ii. Income or output are stocks. iii. Income or output can be defined over a period.
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile