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5 Written questions

5 Matching questions

  1. Tanstaafl
  2. Velocity
  3. Fiat Money
  4. Dollar
  5. Fine Silver
  1. a The speed at which money changes hands.
  2. b A one-ounce ingot of silver
  3. c The purity of a precious metal
  4. d Almost nothing is free, someone must pay for it
  5. e Legal tender money

5 Multiple choice questions

  1. The correction period following an inflation.
  2. The notches on the edge of a coin
  3. When prices rise rapidly, every few hours.
  4. Today, it is paper money. Originally, it was an IOU from a bank
  5. A decrease in the ammount of money.

5 True/False questions

  1. CoinA wafer or disk of precious metal

          

  2. Law of EconomicsAn unchanging fact of life which deals with production and distribution of wealth.

          

  3. Base MetalA non-precious metal like copper or nickel

          

  4. MoneyA disk of base metal which can be used as a substitute for a coin

          

  5. Law of supply and demandAn unchanging fact of life which deals with production and distribution of wealth.