“Mr. Sahotra borrowed funds from bank for purchasing a new house.” From the above statement, identify the indicated function of money:
Show Hint
- Medium of exchange
- Store of value
- Unit of account
- Standard of deferred payments
The Correct Option is D
Solution and Explanation
The function of money in this context is the Standard of deferred payments, as Mr. Sahotra is borrowing funds for a future purchase. Money is being used as a means to make payments over time rather than immediately, which is the essence of deferred payments.
Conclusion: In this case, money serves the function of deferred payments, allowing Mr. Sahotra to repay the loan over time for his house.
Top Questions on Foreign exchange market
From the following data, estimate the value of Net Indirect Taxes (NIT):
- GATE XH-C1 - 2024
- Economics
- Foreign exchange market
From the following, identify the correct reasons that may affect the supply of foreign exchange in an economy:
I. Purchase of land in England by an Indian
II. Foreign tourists visiting Taj Mahal
III. Donation of 500 million dollars from Microsoft
IV. Indian students going to Australia for studies- GATE XH-C1 - 2024
- Economics
- Foreign exchange market
- "With an objective to reduce inflation, government may reduce public Expenditure." Discuss the rationale behind such a step which may be taken by the Government.
- GATE XH-C1 - 2024
- Economics
- Foreign exchange market
- 'Open Market Operation by the Reserve Bank of India (RBI) helps in regulating money supply in the economy." Justify the given statement.
- GATE XH-C1 - 2024
- Economics
- Foreign exchange market
From the following, identify the correct reasons that may affect the supply of foreign exchange in an economy:
I. Purchase of land in England by an Indian
II. Foreign tourists visiting Taj Mahal
III. Donation of 500 million dollars from Microsoft
IV. Indian students going to Australia for studies- GATE XH-C1 - 2024
- Economics
- Foreign exchange market
Questions Asked in GATE XH-C1 exam
- Consider a two good economy where a denotes consumption of apricots and b denotes consumption of bananas. Anu's utility function is UAnu (a, b) = a + 2b, and Binu's utility function is UBinu (a, b) = min{a, 2b}. Anu initially has no apricots and 12 bananas. Binu initially has 12 apricots and no bananas. In the competitive equilibrium, which one of the following will be Anu's optimal consumption bundle ?
- GATE XH-C1 - 2024
- Utility Function
- Given an input line of numbers and words, a machine rearranges them following particular rule in each step. Here is an illustration of an input and rearrangement sequence (Step 1 to Step 5) :
Input: 61 wb ob 48 45 29 34 sb pb lb
Step 1: lb wb ob 48 45 29 34 sb pb 61
Step 2: lb ob wb 45 29 34 sb pb 61 48
Step 3: lb ob pb wb 29 34 sb 61 48 45
Step 4: lb ob pb sb wb 29 61 48 45 34
Step 5: lb ob pb sb wb 61 48 45 34 29
Step 5 is the last step of the above arrangement.
Based on the rules followed in the above steps, answer the following question :
Input: cb kb eb 58 49 23 38 jb nb gb 69 82
Which of the following represents the position of 58 in the fourth step? (Step-5 is the last step of the arrangement.)- GATE XH-C1 - 2024
- Sequence and Series
- How can businesses benefit from green finance?
- GATE XH-C1 - 2024
- Reading Comprehension
- Read the following passage carefully:
1. India has aimed to reduce the country’s carbon intensity by approximately 45 percent by 2030. To achieve this, ‘Green finance’ plays a vital role. At the initial stages, green finance needs a big push from the government. The Indian government has identified projects worth Rs. 25,000 crore that will be financed by proceeds from Sovereign Green Bonds.
2. According to the framework approved by the finance ministry, the sovereign green bonds will focus on financing public projects including renewable energy, climate change, clean transportation, sustainable water and waste management, and pollution control.
3. Businesses that take green finance can benefit in various ways. It can help them follow different environmental norms and regulations, thus avoiding possible fines. Adopting sustainable developmental practices enhances the brand value of businesses. Customers tend to prefer brands that adopt clear sustainable development practices. The energy-efficient and other sustainable development practices promoted by green finance also often help in saving costs and boosting the profitability of businesses.
4. -The Economic Times, April 22, 2023 (Modified) On the basis of the given text and common understanding, answer the following questions:- GATE XH-C1 - 2024
- Reading Comprehension
- "Navratan Policy of the government has helped in improving the performance of Public Sector Undertakings (PSUs) in India." Do you agree with the given statement? Justify your answer with valid arguments.
- GATE XH-C1 - 2024
- National Income Accounting