31 In Monetary policy, taxation is

Not an instrument

32 In Monetary policy, taxation has

No role

33 At a very low rate of interest, the interest elasticity of the speculative demand for money becomes how much?

Infinite

34 When liquidity trap condition occurs?

At very low rate of interest

35 In deflation, which person can get more benefits?

A pensioner

36 According to classical approach, on what the demand for money primarily depends upon?

Economic transactions

37 What is stagflation?

Sustained price rise and rising unemployment

38 When and who gave the first explanation of stagflation?

In 1931 by Friedrich A. Von Hayek

39 The process of reduction or elimination of inflation is called

Disinflation

40 Supervision of nation’s fiscal policy is not a function of the

Central bank of a country