5 Written questions
5 Matching questions
- Fiat Money
- Demand for Money
- Double Digit Inflation
- Gresham's Law
- a A government program tax money away, usually to rich people or large companies
- b Bad money drives good money out of circulation. People hoard good money and trade with legally overvalued money.
- c Prices increases rising at 10 to 99 percent per year due to inflation
- d Legal tender money
- e The desire to hold money rather than trade it.
5 Multiple choice questions
- A wafer or disk of precious metal
- A government program for giving away money or goods, usually to poor people
- A decrease in the ammount of money.
- Almost nothing is free, someone must pay for it
- Today, it is paper money. Originally, it was an IOU from a bank
5 True/False questions
Counterfeiting → The notches on the edge of a coin
Recession → The correction period following an inflation.
Inflation → An increase in the amount of money which causes the money to lose value, so the prices rise
Base Metal → A non-precious metal like copper or nickel
Velocity → The speed at which money changes hands.