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5 Written questions

5 Matching questions

  1. Runaway Inflation
  2. Dollar
  3. Debasing
  4. Fine Silver
  5. Tanstaafl
  1. a The purity of a precious metal
  2. b When prices rise rapidly, every few hours.
  3. c Almost nothing is free, someone must pay for it
  4. d A one-ounce ingot of silver
  5. e Reducing the value of a coin by reducing the amount of precious metal in it.

5 Multiple choice questions

  1. The speed at which money changes hands.
  2. Bad money drives good money out of circulation. People hoard good money and trade with legally overvalued money.
  3. A disk of base metal which can be used as a substitute for a coin
  4. To make something that is fake or phonylly overvalued money.
  5. Prices increases rising at 10 to 99 percent per year due to inflation

5 True/False questions

  1. Law of EconomicsLegal tender money


  2. BanknoteToday, it is paper money. Originally, it was an IOU from a bank


  3. ReedingThe notches on the edge of a coin


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


  5. ClippingA wafer or disk of precious metal