True or False: The barter system allows for the storage of wealth without any loss of value.

False. Storing wealth in goods can lead to loss of value and increased costs.

Fill in the blank: One major difficulty of the barter system is the lack of ___, which complicates transactions.

Divisibility

Multiple Choice: Which of the following is NOT a function of money? 
A) Medium of exchange
B) Store of value 
C) Measure of weight 
D) Measure of value

C) Measure of weight

Fill in the blank: The introduction of gold coins in India was credited to ___ of the Kushan Dynasty.

King Kanishka

True or False: Paper money replaced metallic money due to the increased demand for money as trade expanded.

True

What defines fiat money?

Fiat money is a medium of exchange that is generally acceptable and enforced by law, such as currency notes and coins.

Fill in the blank: The final stage in the evolution of money is ___ money.

Bank

Which form of money is characterized by the use of one or more types of metals?

Metallic money

True or False: All forms of money have been universally accepted across all cultures at all times.

False - Different forms of money have been accepted in different cultures and times.

What is included in M1 when defining the money supply?

M1 includes currency with the public, demand deposits with commercial banks, and deposits kept by commercial banks with the Reserve Bank.

Fill in the blank: Time deposits are fixed-term deposits with a specified maturity period, ranging from 7 days to ___ years.

10

True or False: Demand deposits earn interest.

False. Demand deposits do not earn interest.

Fill in the blank: Money must be easily recognizable, which is referred to as its ___ feature.

Cognisability