5 Written questions
5 Matching questions
- Base Metal
- Law of Economics
- Double Digit Inflation
- a Prices increases rising at 10 to 99 percent per year due to inflation
- b An unchanging fact of life which deals with production and distribution of wealth.
- c The correction period following an inflation.
- d Shaving the edges of a coin in order to get some of the precious metal from the coin
- e A non-precious metal like copper or nickel
5 Multiple choice questions
- Today, it is paper money. Originally, it was an IOU from a bank
- The beginning of a depression that never went all the way.
- The most easily traded thing in a society
- An increase in the amount of money which causes the money to lose value, so the prices rise
- When the supply of something goes up, the price per unit of that thing goes down
5 True/False questions
Velocity → The speed at which money changes hands.
Hallmark → The mint-mark of a coin which tells who made the coin
Runaway Inflation → When prices rise rapidly, every few hours.
Welfare Program → The correction period following an inflation.
Deflation → An increase in the amount of money which causes the money to lose value, so the prices rise