India's Decision in Late 2016 to Withdraw from Circulation All

question 88

Multiple Choice

India's decision in late 2016 to withdraw from circulation all existing 500- and 1,000- rupee paper currency,to stop accepting the old currency,and to stop exchanging it for new currency was an attempt by policymakers to

• A)eliminate all currency from the economy.
• B)increase the size of the underground economy.
• C)reduce corruption.
• D)end hyperinflation.

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Definitions:

Common Good

The benefit or interests of all participants or members of a society or community, as opposed to the benefit of a single individual.

Society

A group of individuals involved in persistent social interaction, or a large social grouping sharing the same geographical or social territory, typically subject to the same political authority and dominant cultural expectations.

Functionalist Theory

A viewpoint in sociology that sees society as a complicated system in which its components cooperate to foster unity and steadiness.

Age Differentiation

The categorization or division of individuals into groups based on their age, affecting their roles, responsibilities, and social perceptions within society.