5 Written questions
5 Matching questions
- Demand for Money
- Welfare Program
- Law of supply and demand
- Legal Tender Law
- a The desire to hold money rather than trade it.
- b A government program for giving away money or goods, usually to poor people
- c A law which provides for the punishment of anyone who refuses to accept the legal tender money
- d When the supply of something goes up, the price per unit of that thing goes down
- e A coin made of different metals.
5 Multiple choice questions
- 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.
- Bad money drives good money out of circulation. People hoard good money and trade with legally overvalued money.
- A non-precious metal like copper or nickel
- When prices rise rapidly, every few hours.
5 True/False questions
Subsidy → Reducing the value of a coin by reducing the amount of precious metal in it.
Double Digit Inflation → Prices increases rising at 10 to 99 percent per year due to inflation
Banknote → Today, it is paper money. Originally, it was an IOU from a bank
Token → A disk of base metal which can be used as a substitute for a coin
Reeding → The notches on the edge of a coin