Money/Coins/Paper
The grooves in a dime or quarter.
What is reeding?
Shaving the edges of a coin in order to get some of the precious metal from the coin.
What is clipping?
The correction period following inflation.
The speed at which money changes hands.
What is velocity?
Silver was removed from dimes an quarters in this year.
What is 1965?
When the supply goes up, the price goes ...
What is down?
What is a recession?
Shares in the ownership of a company.
What is stocks?
The one who grants rights to life, freedom, and property
Who is the Creator?
The difference between a coin and a token
what is coin is a precious metal, token is not
The goods and services people produce or convert to their use.
What is wealth?
The process of up, down, up, down inflation, recession is called this.
A decline in velocity has the same effect as a decline in _______ ?
What is money supply?
According to Uncle Eric, a country's economic prosperity (or lack thereof) is directly related to its
What is legal system?
what is 1965
The law that says nothing is free, someone must pay for it.
What is TANSTAAFL?
Prices rising rapidly, as in every few hours.
What is hyperinflation?
Years we read about in US economic history in which we experienced recessions almost as bad as the Great Depression.
1982, 1987, 2008
Law that states there is no higher law than the government and an individual's rights are granted by the government
What is a hallmark?
A law of economics that says bad money drives good money out of circulation, and people hoard good money and trade with legally overvalued money.
What is Gresham's Law?
Large increases in the supply of money are always followed by this.
What is increases in wages and prices.
An abbreviation that describes money as currency, checking or savings accounts, travelers checks, etc.
What is M2?
The dominant political and economic philosophy by the 1960's.
What is socialism?