5 Written questions
5 Matching questions
- Runaway Inflation
- Fine Silver
- a The purity of a precious metal
- b When prices rise rapidly, every few hours.
- c Almost nothing is free, someone must pay for it
- d A one-ounce ingot of silver
- e Reducing the value of a coin by reducing the amount of precious metal in it.
5 Multiple choice questions
- The speed at which money changes hands.
- Bad money drives good money out of circulation. People hoard good money and trade with legally overvalued money.
- A disk of base metal which can be used as a substitute for a coin
- To make something that is fake or phonylly overvalued money.
- Prices increases rising at 10 to 99 percent per year due to inflation
5 True/False questions
Law of Economics → Legal tender money
Banknote → Today, it is paper money. Originally, it was an IOU from a bank
Reeding → The notches on the edge of a coin
Deflation → An increase in the amount of money which causes the money to lose value, so the prices rise
Clipping → A wafer or disk of precious metal