Bank Exams Exam > Bank Exams Questions > National income of a country can be measured ...
Start Learning for Free
National income of a country can be measured in money by aggregating the value of all commodities. Which of the following functions of money is highlighted here?
- a)Primary Functions
- b)Secondary Functions
- c)Tertiary Functions
- d)Contingent Functions
Correct answer is option 'D'. Can you explain this answer?
| FREE This question is part of | Download PDF Attempt this Test |
Most Upvoted Answer
National income of a country can be measured in money by aggregating t...
Money has many important functions to perform. These functions may be classified as follows:
- Primary Functions. (a) Medium of Exchange. (b) Measure of Value.
- Secondary functions (a) Store of value. (b) Standard of deferred payments. (c) Transfer of money.
- Contingent functions. (a) Measurement and distribution of national income. (b) Money equalizes marginal utilities/productivities. (c) Basis of credit. (d) Liquidity
Measurements and distribution of national income: National income of a country can be measured in money by aggregating the value of all commodities. Similarly national income can be distributed to different factors of production by making payments to them in money. This is contingent function.
Free Test
FREE
| Start Free Test |
Community Answer
National income of a country can be measured in money by aggregating t...
Understanding the Functions of Money
In the context of measuring national income by aggregating the value of all commodities, we highlight a specific function of money.
Functions of Money
Money serves various functions in an economy, which can be categorized into primary, secondary, tertiary, and contingent functions. The question pertains to the contingent functions of money.
What are Contingent Functions?
- Definition: Contingent functions of money are those that emerge under specific conditions or situations.
- Measurement of National Income: When we aggregate the value of all commodities to measure national income, money acts as a unit of account. It provides a common measure to evaluate and compare the value of different goods and services, which is essential for economic analysis.
Importance of Contingent Functions
- Facilitating Economic Calculations: The ability to aggregate values in monetary terms allows for easier calculations, comparisons, and evaluations of economic performance.
- Policy Formulation: Understanding national income helps governments in formulating fiscal and monetary policies.
Conclusion
In summary, the process of aggregating the value of all commodities to measure national income showcases the contingent functions of money. It highlights how money can be utilized to assess economic performance under specific circumstances, making it a crucial tool for policymakers and economists.
In the context of measuring national income by aggregating the value of all commodities, we highlight a specific function of money.
Functions of Money
Money serves various functions in an economy, which can be categorized into primary, secondary, tertiary, and contingent functions. The question pertains to the contingent functions of money.
What are Contingent Functions?
- Definition: Contingent functions of money are those that emerge under specific conditions or situations.
- Measurement of National Income: When we aggregate the value of all commodities to measure national income, money acts as a unit of account. It provides a common measure to evaluate and compare the value of different goods and services, which is essential for economic analysis.
Importance of Contingent Functions
- Facilitating Economic Calculations: The ability to aggregate values in monetary terms allows for easier calculations, comparisons, and evaluations of economic performance.
- Policy Formulation: Understanding national income helps governments in formulating fiscal and monetary policies.
Conclusion
In summary, the process of aggregating the value of all commodities to measure national income showcases the contingent functions of money. It highlights how money can be utilized to assess economic performance under specific circumstances, making it a crucial tool for policymakers and economists.
Attention Bank Exams Students!
To make sure you are not studying endlessly, EduRev has designed Bank Exams study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in Bank Exams.
|
Explore Courses for Bank Exams exam
|
|
Similar Bank Exams Doubts
Top Courses for Bank ExamsView all
National income of a country can be measured in money by aggregating the value of all commodities. Which of the following functions of money is highlighted here?a)Primary Functionsb)Secondary Functionsc)Tertiary Functionsd)Contingent FunctionsCorrect answer is option 'D'. Can you explain this answer?
Question Description
National income of a country can be measured in money by aggregating the value of all commodities. Which of the following functions of money is highlighted here?a)Primary Functionsb)Secondary Functionsc)Tertiary Functionsd)Contingent FunctionsCorrect answer is option 'D'. Can you explain this answer? for Bank Exams 2024 is part of Bank Exams preparation. The Question and answers have been prepared according to the Bank Exams exam syllabus. Information about National income of a country can be measured in money by aggregating the value of all commodities. Which of the following functions of money is highlighted here?a)Primary Functionsb)Secondary Functionsc)Tertiary Functionsd)Contingent FunctionsCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Bank Exams 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for National income of a country can be measured in money by aggregating the value of all commodities. Which of the following functions of money is highlighted here?a)Primary Functionsb)Secondary Functionsc)Tertiary Functionsd)Contingent FunctionsCorrect answer is option 'D'. Can you explain this answer?.
National income of a country can be measured in money by aggregating the value of all commodities. Which of the following functions of money is highlighted here?a)Primary Functionsb)Secondary Functionsc)Tertiary Functionsd)Contingent FunctionsCorrect answer is option 'D'. Can you explain this answer? for Bank Exams 2024 is part of Bank Exams preparation. The Question and answers have been prepared according to the Bank Exams exam syllabus. Information about National income of a country can be measured in money by aggregating the value of all commodities. Which of the following functions of money is highlighted here?a)Primary Functionsb)Secondary Functionsc)Tertiary Functionsd)Contingent FunctionsCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Bank Exams 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for National income of a country can be measured in money by aggregating the value of all commodities. Which of the following functions of money is highlighted here?a)Primary Functionsb)Secondary Functionsc)Tertiary Functionsd)Contingent FunctionsCorrect answer is option 'D'. Can you explain this answer?.
Solutions for National income of a country can be measured in money by aggregating the value of all commodities. Which of the following functions of money is highlighted here?a)Primary Functionsb)Secondary Functionsc)Tertiary Functionsd)Contingent FunctionsCorrect answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for Bank Exams.
Download more important topics, notes, lectures and mock test series for Bank Exams Exam by signing up for free.
Here you can find the meaning of National income of a country can be measured in money by aggregating the value of all commodities. Which of the following functions of money is highlighted here?a)Primary Functionsb)Secondary Functionsc)Tertiary Functionsd)Contingent FunctionsCorrect answer is option 'D'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
National income of a country can be measured in money by aggregating the value of all commodities. Which of the following functions of money is highlighted here?a)Primary Functionsb)Secondary Functionsc)Tertiary Functionsd)Contingent FunctionsCorrect answer is option 'D'. Can you explain this answer?, a detailed solution for National income of a country can be measured in money by aggregating the value of all commodities. Which of the following functions of money is highlighted here?a)Primary Functionsb)Secondary Functionsc)Tertiary Functionsd)Contingent FunctionsCorrect answer is option 'D'. Can you explain this answer? has been provided alongside types of National income of a country can be measured in money by aggregating the value of all commodities. Which of the following functions of money is highlighted here?a)Primary Functionsb)Secondary Functionsc)Tertiary Functionsd)Contingent FunctionsCorrect answer is option 'D'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice National income of a country can be measured in money by aggregating the value of all commodities. Which of the following functions of money is highlighted here?a)Primary Functionsb)Secondary Functionsc)Tertiary Functionsd)Contingent FunctionsCorrect answer is option 'D'. Can you explain this answer? tests, examples and also practice Bank Exams tests.
|
|
Explore Courses for Bank Exams exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup