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Consider the following statements

Consider the following statements:
I. Pali texts contain the first definite references to coins, e.g., kahapana, nikkha, kamsa, and kakanika.
II. The literary evidence from Pali texts is corroborated by archaeological evidence of punch-marked coins from many sites, most of them made of silver.
The above statements have been associated with which of the following?
1. Emergence of urban life
2. Transition to money economy
Select the correct answer using the code given below:

(a)

1 only

(b)

2 only

(c)

Both 1 and 2

(d)

Neither 1 nor 2

Explanation