Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Indian Economic Development: Liberalisation, Privatisation and Globalisation - An Appraisal

Question:

Which of the following statements is true in regards to "Demonetization"?

Statement 1- On November 8, 2014, the government announced a historic measure, with profound implications for the economy.

Statement 2- Two largest denomination notes of 1,000 and 2,000 were demonetized with immediate effect.

 

Options:

Only statement 1 is true

Only statement 2 is true

 

Both statement 1 and statement 2 are true

Neither statement 1 nor statement 2 is true

Correct Answer:

Neither statement 1 nor statement 2 is true

Explanation:

On November 8, 2016, the government announced a historic measure, with profound implications for the economy.

Two largest denomination notes of 500 and 1,000 were demonetized with immediate effect.