5 Written Questions
5 Matching Questions
- Welfare Program
- Gresham's Law
- Law of supply and demand
- Fine Silver
- a When the supply of something goes up, the price per unit of that thing goes down
- b A government program for giving away money or goods, usually to poor people
- c The purity of a precious metal
- d The notches on the edge of a coin
- e Bad money drives good money out of circulation. People hoard good money and trade with legally overvalued money.
5 Multiple Choice Questions
- Reducing the value of a coin by reducing the amount of precious metal in it.
- A law which provides for the punishment of anyone who refuses to accept the legal tender money
- A non-precious metal like copper or nickel
- A wafer or disk of precious metal
- Almost nothing is free, someone must pay for it
5 True/False Questions
Dollar → A coin made of different metals.
Clad → A wafer or disk of precious metal
Subsidy → Reducing the value of a coin by reducing the amount of precious metal in it.
Counterfeiting → To make something that is fake or phonylly overvalued money.
Banknote → Today, it is paper money. Originally, it was an IOU from a bank