USA CITIZENSHIP TEST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Explain law
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Provide protection and schooling
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Print money
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None of the above
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Detailed explanation-1: -1. Monetizing debt means the government borrows money to buy goods and then repays its debt by printing more money. This is equivalent to simply printing money in the first place to buy goods.
Detailed explanation-2: -Article I, Section 8, Clause 5: [The Congress shall have Power . . . ] To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures; . . .
Detailed explanation-3: -Bank notes are printed at four currency presses, two of which are owned by the Government of India through its Corporation, Security Printing and Minting Corporation of India Ltd. (SPMCIL) and two are owned by the Reserve Bank, through its wholly owned subsidiary, Bharatiya Reserve Bank Note Mudran Private Ltd.
Detailed explanation-4: -RBI Limitations: The Indian Government 4 The Reserve Bank has the right to print currency up to 10, 000 rupee notes. However, if the Reserve Bank wants to print anything higher, the government must amend the Reserve Bank of India Act.