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5 Written questions

5 Matching questions

  1. Clipping
  2. Velocity
  3. Business Cycle
  4. Depression
  5. Dollar
  1. a The speed at which money changes hands.
  2. b A one-ounce ingot of silver
  3. c Prosperity followed by recession followed by prosperity followed by recession, and so forth.
  4. d Shaving the edges of a coin in order to get some of the precious metal from the coin
  5. e The correction period following an inflation.

5 Multiple choice questions

  1. A wafer or disk of precious metal
  2. An increase in the amount of money which causes the money to lose value, so the prices rise
  3. Prices increases rising at 10 to 99 percent per year due to inflation
  4. The notches on the edge of a coin
  5. A decrease in the ammount of money.

5 True/False questions

  1. Welfare ProgramThe correction period following an inflation.

          

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

          

  3. Fiat MoneyLegal tender money

          

  4. Gresham's LawA law which provides for the punishment of anyone who refuses to accept the legal tender money

          

  5. Legal Tender LawA law which provides for the punishment of anyone who refuses to accept the legal tender money