Inflation
Price increases rising at 10 to 99% per year due to inflation.
What is double-digit inflation?
Money created by a legal tender law (not backed by gold or silver).
What is fiat money?
A law saying you will be punished if you do not accept a given type of money in trade for your goods or services.
What is a legal tender law?
The US Government's estimate of the overall price level of goods purchased by consumers.
What is the Consumer Price Index?
A sudden strong surge of buying or selling.
What is a run?
An inflation in which prices are rising at triple-digit (or more) rates per year.
What is hyperinflation?
Money that changes hands quickly.
What is hot money?
Forbidding traders to change their prices or forbid them to sell or transport their goods.
What is a freeze?
The government's estimate of the production of finished goods and services.
What is the Gross National Product?
Not easily sold or traded.
What is illiquid?
The stage where the whole population is in a panic to get rid of money as soon as they get their hands on it and money declines to the value of scrap paper.
What is third stage inflation?
-------DAILY DOUBLE-------
The speed at which money changes hands.
What is velocity?
The production, sale, or trade of goods or services against the wishes of the government.
What is the black market?
The central bank of the U.S. that controls the supply of money and attempts to control interest rates.
What is the Federal Reserve?
The illustration of the difference between interest paid on short-term bonds and long-term bonds.
What is a yield curve?
A decrease in the amount of money causing a decrease in prices.
What is deflation?
The amount of money in a country or economy.
What is money supply?
A law forbidding farmers to sell grain to certain buyers.
What is a grain embargo?
The shortfall that results when the government's spending exceeds it's income.
What is the Federal Deficit?
A bond that is fixed to the consumer price index.
What is an inflation-indexed bond?
Prosperity followed by recession followed by prosperity followed by recession, and so forth.
What is a business cycle or boom/bust cycle?
The cost of renting money.
What is interest?
Changes that occur on Wall Street and Main Street when the government injects new money into the economy.
What is the injection effect?
An IOU from the US Government for a loan.
What is a US Treasury Bond?
When millions of people are constantly alert and very sensitive to the slightest hint of change in government policy that might frighten enough people to result in a financial stampede.
What is a hair-trigger?