Money
Another name for paper money issued by the United States government.
What is Federal Reserve Note?
An increase in the amount of money, which causes the money to lose value and prices to rise.
What is inflation?
The cycle of prosperity, followed by recession, followed by prosperity, followed by recession, etc.
The Business Cycle, or the Boom/Bust Cycle
The shortfall between the government's income and its spending.
What is a deficit?
This law deals with the production and distribution of wealth.
What is the Law of Economics?
A non-precious metal like copper or nickel.
What is a base metal?
A decrease in the amount of money, which usually causes depression and falling prices.
What is deflation?
This defines money as currency, checking accounts, travelers checks, savings accounts, money market mutual funds, and certain transactions between banks.
What is M2?
The way government gets money.
What are taxes?
This law states that when the supply of something goes up, the price per unit goes down. When the supply goes down, the price goes up.
What is the Law of Supply and Demand?
When prices increase at >50% per month, we have this.
What is hyperinflation, or runaway inflation?
The speed at which money changes hands.
What is velocity?
The total of all federal deficits.
What is the Federal Debt?
The goods and services people produce or convert to their use.
What is wealth?
The practice of shaving the edges of a coin in order to get some of the precious metal from the coin.
What is clipping?
This is the beginning of a depression that never went all the way.
What is a recession?
This measures the changes in the prices of items purchased by households.
What is the Consumer Price Index?
DAILY DOUBLE
Officials took 194 years to accumulate their first trillion dollars and only ______ number of years to accumulate their second trillion.
What is 5 years?
Government construction projects, such as roads, dams, and bridges.
The practice of reducing the value of a coin by reducing the amount of precious metal in it.
What is debasing?
What is a revolution?
Producing, buying, or selling something against the wishes of the government.
What is the black market?
What is Gresham's Law?
A government program for giving tax money away, usually to rich people or large companies.
What is a subsidy?