Economy

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2 questions

2018 · Question 46 · Money and Currency
Which one of the following statements correctly describes the meaning of legal tender money ?
Choose your answer(a)The money which is tendered in courts of law to defray the fee of legal cases(b)The money which a creditor is under compulsion to accept in settlement of his claims(c)The bank money in the form of cheques, drafts, bills of exchange, etc.(d)The metallic money in circulation in a country
Source: UPSC, Civil Services (Preliminary), General Studies Paper I (opens in a new tab)
2016 · Question 66 · Money and Currency
With reference to ‘Bitcoins’, sometimes seen in the news, which of the following statements is/are correct? 1. Bitcoins are tracked by the Central Banks of the countries. 2. Anyone with a Bitcoin address can send and receive Bitcoins from anyone else with a Bitcoin address. 3. Online payments can be sent without either side knowing the identity of the other. Select the correct answer using the code given below.
Choose your answer(a)1 and 2 only(b)2 and 3 only(c)3 only(d)1, 2 and 3
Source: UPSC, Civil Services (Preliminary), General Studies Paper I (opens in a new tab)