Economics · Money and Credit
Given below are two statements, one is labelled as Assertion (A) and the other is labelled as Reason (R). Assertion (A): Modern currency is accepted as a medium of exchange. Reason (R): It is accepted as a medium of exchange because the currency is authorised by the government of the country. In the light of the above statements, choose the most appropriate answer from the options given below:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1(A) is not correct but (R) is correct
- 2(A) is correct but (R) is not correct
- 3Both (A) and (R) are correct, but (R) is not the correct explanation of (A)
- 4Both (A) and (R) are correct and (R) is the correct explanation of (A)✓
Correct answer
Both (A) and (R) are correct and (R) is the correct explanation of (A)
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