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5 Written Questions

5 Matching Questions

  1. Welfare Program
  2. Banknote
  3. Inflation
  4. Reeding
  5. Debasing
  1. a The notches on the edge of a coin
  2. b Today, it is paper money. Originally, it was an IOU from a bank
  3. c An increase in the amount of money which causes the money to lose value, so the prices rise
  4. d Reducing the value of a coin by reducing the amount of precious metal in it.
  5. e A government program for giving away money or goods, usually to poor people

5 Multiple Choice Questions

  1. Legal tender money
  2. Almost nothing is free, someone must pay for it
  3. When the supply of something goes up, the price per unit of that thing goes down
  4. A one-ounce ingot of silver
  5. The purity of a precious metal

5 True/False Questions

  1. CladA wafer or disk of precious metal

          

  2. Law of EconomicsAn unchanging fact of life which deals with production and distribution of wealth.

          

  3. Legal Tender LawLegal tender money

          

  4. CoinA disk of base metal which can be used as a substitute for a coin

          

  5. Demand for MoneyThe desire to hold money rather than trade it.

          

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