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5 Written Questions

5 Matching Questions

  1. Welfare Program
  2. Reeding
  3. Gresham's Law
  4. Law of supply and demand
  5. Fine Silver
  1. a When the supply of something goes up, the price per unit of that thing goes down
  2. b A government program for giving away money or goods, usually to poor people
  3. c The purity of a precious metal
  4. d The notches on the edge of a coin
  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. Reducing the value of a coin by reducing the amount of precious metal in it.
  2. A law which provides for the punishment of anyone who refuses to accept the legal tender money
  3. A non-precious metal like copper or nickel
  4. A wafer or disk of precious metal
  5. Almost nothing is free, someone must pay for it

5 True/False Questions

  1. DollarA coin made of different metals.

          

  2. CladA wafer or disk of precious metal

          

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

          

  4. CounterfeitingTo make something that is fake or phonylly overvalued money.

          

  5. BanknoteToday, it is paper money. Originally, it was an IOU from a bank

          

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