CA Foundation · Paper 4 · 75 Questions · 3 Levels
Direct recall: definition of money, functions, fiat money, characteristics, RBI definition, barter economy, Fisher’s MV=PT, Cambridge Md=kPY, Keynes’ three motives, liquidity trap, Baumol-Tobin basics.
Applied: MV=PT numericals, Md=kPY calculations, Baumol square-root scenarios, interest rate & bond price decisions, speculative motive cases, liquidity trap identification, Friedman vs Keynes, Tobin portfolio logic.
ICAI exam-style: statement analysis, Fisher vs Cambridge (flow vs stock), critical rate mechanism, Baumol income-elasticity, Tobin risk-return trade-off, all-theories consensus, multi-theory combined scenarios.
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