5 Written questions
5 Matching questions
- Legal Tender Law
- a A disk of base metal which can be used as a substitute for a coin
- b Today, it is paper money. Originally, it was an IOU from a bank
- c A government program tax money away, usually to rich people or large companies
- d A law which provides for the punishment of anyone who refuses to accept the legal tender money
- e The most easily traded thing in a society
5 Multiple choice questions
- A coin made of different metals.
- The notches on the edge of a coin
- The purity of a precious metal
- A non-precious metal like copper or nickel
- The mint-mark of a coin which tells who made the coin
5 True/False questions
Tanstaafl → The mint-mark of a coin which tells who made the coin
Law of supply and demand → An unchanging fact of life which deals with production and distribution of wealth.
Depression → The beginning of a depression that never went all the way.
Business Cycle → Prosperity followed by recession followed by prosperity followed by recession, and so forth.
Inflation → An increase in the amount of money which causes the money to lose value, so the prices rise