5 Written questions
5 Matching questions
- Runaway Inflation
- Business Cycle
- Fiat Money
- a To make something that is fake or phonylly overvalued money.
- b Legal tender money
- c When prices rise rapidly, every few hours.
- d Prosperity followed by recession followed by prosperity followed by recession, and so forth.
- e The speed at which money changes hands.
5 Multiple choice questions
- Prices increases rising at 10 to 99 percent per year due to inflation
- Almost nothing is free, someone must pay for it
- Shaving the edges of a coin in order to get some of the precious metal from the coin
- Today, it is paper money. Originally, it was an IOU from a bank
- A coin made of different metals.
5 True/False questions
Hallmark → The mint-mark of a coin which tells who made the coin
Dollar → A one-ounce ingot of silver
Depression → The correction period following an inflation.
Recession → The beginning of a depression that never went all the way.
Legal Tender Law → Bad money drives good money out of circulation. People hoard good money and trade with legally overvalued money.