5 Written questions
5 Matching questions
- Business Cycle
- a The speed at which money changes hands.
- b A one-ounce ingot of silver
- c Prosperity followed by recession followed by prosperity followed by recession, and so forth.
- d Shaving the edges of a coin in order to get some of the precious metal from the coin
- e The correction period following an inflation.
5 Multiple choice questions
- A wafer or disk of precious metal
- An increase in the amount of money which causes the money to lose value, so the prices rise
- Prices increases rising at 10 to 99 percent per year due to inflation
- The notches on the edge of a coin
- A decrease in the ammount of money.
5 True/False questions
Welfare Program → The correction period following an inflation.
Law of Economics → An unchanging fact of life which deals with production and distribution of wealth.
Fiat Money → Legal tender money
Gresham's Law → A law which provides for the punishment of anyone who refuses to accept the legal tender money
Legal Tender Law → A law which provides for the punishment of anyone who refuses to accept the legal tender money