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Money And Banking

Question

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What is narrow (traditional) definition of money?

Solution

Anything which is used as ‘medium of payment’ is included in narrow definition of money.

Some More Questions From Money And Banking Chapter

What is liquidity trap?

What monetary system does India follow?

Define money supply?

What are the alternative definitions of money supply in India?
or
Describe alternative measures of money supply as used by RBI in India.

What is ‘High Powered Money’?

Define a bank.

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