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5 Written questions

5 Matching questions

  1. Law of supply and demand
  2. Gresham's Law
  3. Fiat Money
  4. Fine Silver
  5. Debasing
  1. a The purity of a precious metal
  2. b Legal tender money
  3. c When the supply of something goes up, the price per unit of that thing goes down
  4. d Reducing the value of a coin by reducing the amount of precious metal in it.
  5. e Bad money drives good money out of circulation. People hoard good money and trade with legally overvalued money.

5 Multiple choice questions

  1. A one-ounce ingot of silver
  2. A decrease in the ammount of money.
  3. The beginning of a depression that never went all the way.
  4. A wafer or disk of precious metal
  5. The speed at which money changes hands.

5 True/False questions

  1. TanstaaflThe mint-mark of a coin which tells who made the coin

          

  2. InflationA decrease in the ammount of money.

          

  3. SubsidyReducing the value of a coin by reducing the amount of precious metal in it.

          

  4. Base MetalA non-precious metal like copper or nickel

          

  5. DepressionThe beginning of a depression that never went all the way.

          

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