5 Written questions
5 Matching questions
- Gresham's Law
- Law of supply and demand
- a To make something that is fake or phonylly overvalued money.
- b When the supply of something goes up, the price per unit of that thing goes down
- c Shaving the edges of a coin in order to get some of the precious metal from the coin
- d The most easily traded thing in a society
- e Bad money drives good money out of circulation. People hoard good money and trade with legally overvalued money.
5 Multiple choice questions
- The notches on the edge of a coin
- Reducing the value of a coin by reducing the amount of precious metal in it.
- A decrease in the ammount of money.
- The speed at which money changes hands.
- The correction period following an inflation.
5 True/False questions
Hallmark → A one-ounce ingot of silver
Clad → A coin made of different metals.
Base Metal → Today, it is paper money. Originally, it was an IOU from a bank
Double Digit Inflation → Prices increases rising at 10 to 99 percent per year due to inflation
Banknote → A disk of base metal which can be used as a substitute for a coin