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5 Written questions

5 Matching questions

  1. Business Cycle
  2. Legal Tender Law
  3. Deflation
  4. Inflation
  5. Double Digit Inflation
  1. a Prosperity followed by recession followed by prosperity followed by recession, and so forth.
  2. b An increase in the amount of money which causes the money to lose value, so the prices rise
  3. c Prices increases rising at 10 to 99 percent per year due to inflation
  4. d A law which provides for the punishment of anyone who refuses to accept the legal tender money
  5. e A decrease in the ammount of money.

5 Multiple choice questions

  1. Legal tender money
  2. An unchanging fact of life which deals with production and distribution of wealth.
  3. The correction period following an inflation.
  4. The notches on the edge of a coin
  5. The speed at which money changes hands.

5 True/False questions

  1. RecessionThe beginning of a depression that never went all the way.


  2. ClippingShaving the edges of a coin in order to get some of the precious metal from the coin


  3. DollarA one-ounce ingot of silver


  4. CounterfeitingThe notches on the edge of a coin


  5. Gresham's LawBad money drives good money out of circulation. People hoard good money and trade with legally overvalued money.