SSC
WORLD GEOGRAPHY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What is a monetary unit
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*a standard unit of value of a country’s coinage
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*the beliefs, customs, and ways of life shared by groups of people
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-A head of state may have executive powers, or may just hold ceremonial powers
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*term frequently used to describe the highest ranking government official
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Explanation:
Detailed explanation-1: -noun. the standard unit of value of the currency of a country, as the dollar in the U.S. and the franc in France.
Detailed explanation-2: -One definition of monetary standards is “the principle way of regulating the quantity of money in the market as well as its exchange value”. So monetary standards also have an indirect effect on the prices in the economy.
Detailed explanation-3: -The monetary system refers to a set of institutions that provides a supportive framework for the creation of money in an economy by the government. There are 3 types of monetary system: Commodity money. Commodity-based money. Fiat money.
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