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- Subject
- Basic of Economicseconomics-mcqs › basic-of-economics
- Published
- 26 May 2019
- Last updated
- 28 May 2026
What do you call a written commitment to repay a certain amount of money either on demand or at a specified date?
Multiple choice question for Basic of Economics. Select an option, then review the explanation below.
Explanation
Both a Promissory Note and a Note of Hand are written promises to pay a specified sum either on demand or at a set time, making both terms correct.
More Basic of Economics MCQs
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- 1.Which of the following best describes deflation?
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- 3.Which of the following represents a legitimate form of currency?
- 4.Which political ideology is best summarized by the phrase, "From each according to his ability, to each according to his needs"?
- 5.Which type of currency experiences a decline in its exchange rate due to a continuous balance of payments deficit?