5 Written questions
5 Matching questions
- Law of supply and demand
- a A coin made of different metals.
- b A disk of base metal which can be used as a substitute for a coin
- c When the supply of something goes up, the price per unit of that thing goes down
- d To make something that is fake or phonylly overvalued money.
- e The correction period following an inflation.
5 Multiple choice questions
- A government program tax money away, usually to rich people or large companies
- The speed at which money changes hands.
- Prosperity followed by recession followed by prosperity followed by recession, and so forth.
- An unchanging fact of life which deals with production and distribution of wealth.
- A government program for giving away money or goods, usually to poor people
5 True/False questions
Debasing → Reducing the value of a coin by reducing the amount of precious metal in it.
Base Metal → A non-precious metal like copper or nickel
Clipping → Shaving the edges of a coin in order to get some of the precious metal from the coin
Inflation → A decrease in the ammount of money.
Gresham's Law → Bad money drives good money out of circulation. People hoard good money and trade with legally overvalued money.