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5 Written questions

5 Matching questions

  1. Clad
  2. Fiat Money
  3. Tanstaafl
  4. Law of supply and demand
  5. Clipping
  1. a A coin made of different metals.
  2. b Almost nothing is free, someone must pay for it
  3. c Legal tender money
  4. d When the supply of something goes up, the price per unit of that thing goes down
  5. e Shaving the edges of a coin in order to get some of the precious metal from the coin

5 Multiple choice questions

  1. Reducing the value of a coin by reducing the amount of precious metal in it.
  2. A wafer or disk of precious metal
  3. To make something that is fake or phonylly overvalued money.
  4. An unchanging fact of life which deals with production and distribution of wealth.
  5. The mint-mark of a coin which tells who made the coin

5 True/False questions

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


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


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


  4. Demand for MoneyThe desire to hold money rather than trade it.


  5. InflationAn increase in the amount of money which causes the money to lose value, so the prices rise