5 Written Questions
5 Matching Questions
- Welfare Program
- a The notches on the edge of a coin
- b Today, it is paper money. Originally, it was an IOU from a bank
- c An increase in the amount of money which causes the money to lose value, so the prices rise
- d Reducing the value of a coin by reducing the amount of precious metal in it.
- e A government program for giving away money or goods, usually to poor people
5 Multiple Choice Questions
- Legal tender money
- Almost nothing is free, someone must pay for it
- When the supply of something goes up, the price per unit of that thing goes down
- A one-ounce ingot of silver
- The purity of a precious metal
5 True/False Questions
Clad → A wafer or disk of precious metal
Law of Economics → An unchanging fact of life which deals with production and distribution of wealth.
Legal Tender Law → Legal tender money
Coin → A disk of base metal which can be used as a substitute for a coin
Demand for Money → The desire to hold money rather than trade it.