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5 Written questions

5 Matching questions

  1. Clipping
  2. Gresham's Law
  3. Law of supply and demand
  4. Money
  5. Counterfeiting
  1. a To make something that is fake or phonylly overvalued money.
  2. b When the supply of something goes up, the price per unit of that thing goes down
  3. c Shaving the edges of a coin in order to get some of the precious metal from the coin
  4. d The most easily traded thing in a society
  5. e Bad money drives good money out of circulation. People hoard good money and trade with legally overvalued money.

5 Multiple choice questions

  1. The notches on the edge of a coin
  2. Reducing the value of a coin by reducing the amount of precious metal in it.
  3. A decrease in the ammount of money.
  4. The speed at which money changes hands.
  5. The correction period following an inflation.

5 True/False questions

  1. HallmarkA one-ounce ingot of silver

          

  2. CladA coin made of different metals.

          

  3. Base MetalToday, it is paper money. Originally, it was an IOU from a bank

          

  4. Double Digit InflationPrices increases rising at 10 to 99 percent per year due to inflation

          

  5. BanknoteA disk of base metal which can be used as a substitute for a coin

          

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