NAME: ________________________

Penny Candy Vocab Test

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5 Written Questions

5 Matching Questions

  1. Debasing
  2. Token
  3. Depression
  4. Legal Tender Law
  5. Banknote
  1. a A disk of base metal which can be used as a substitute for a coin
  2. b Reducing the value of a coin by reducing the amount of precious metal in it.
  3. c Today, it is paper money. Originally, it was an IOU from a bank
  4. d The correction period following an inflation.
  5. e A law which provides for the punishment of anyone who refuses to accept the legal tender money

5 Multiple Choice Questions

  1. The notches on the edge of a coin
  2. A wafer or disk of precious metal
  3. A non-precious metal like copper or nickel
  4. Almost nothing is free, someone must pay for it
  5. An unchanging fact of life which deals with production and distribution of wealth.

5 True/False Questions

  1. Law of supply and demandAn unchanging fact of life which deals with production and distribution of wealth.

          

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

          

  3. DeflationAn increase in the amount of money which causes the money to lose value, so the prices rise

          

  4. CounterfeitingThe notches on the edge of a coin

          

  5. CladA coin made of different metals.

          

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