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5 Written questions

5 Matching questions

  1. Demand for Money
  2. Welfare Program
  3. Law of supply and demand
  4. Clad
  5. Legal Tender Law
  1. a The desire to hold money rather than trade it.
  2. b A government program for giving away money or goods, usually to poor people
  3. c A law which provides for the punishment of anyone who refuses to accept the legal tender money
  4. d When the supply of something goes up, the price per unit of that thing goes down
  5. e A coin made of different metals.

5 Multiple choice questions

  1. Prosperity followed by recession followed by prosperity followed by recession, and so forth.
  2. An unchanging fact of life which deals with production and distribution of wealth.
  3. Bad money drives good money out of circulation. People hoard good money and trade with legally overvalued money.
  4. A non-precious metal like copper or nickel
  5. When prices rise rapidly, every few hours.

5 True/False questions

  1. SubsidyReducing the value of a coin by reducing the amount of precious metal in it.

          

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

          

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

          

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

          

  5. ReedingThe notches on the edge of a coin