Econ Jargon
The correction period following inflation.
What is a depression?
A disk of base metal which can be used as a substitute for a coin.
What is a token?
Large increases in the supply of money are always followed by this.
What are increases in wages and prices?
The speed at which money changes hands.
What is velocity?
Under Natural Law, the one who grants rights to life, freedom, and property.
Who is the Creator?
Shares in the ownership of a company.
What are stocks?
The grooves in a dime or quarter.
What is reeding?
Prices rising rapidly, as in every few hours, is called this.
What is hyperinflation?
This abbreviation describes money as a currency, checking or savings accounts, travelers checks, etc.
What is M2?
Under Natural Law, you must not encroach on these two things.
What are other persons and/or their property?
A coin made of layers of different metals.
What is a clad or sandwich coin?
Reducing the value of a coin by reducing the amount of precious metal in it.
What is debasing?
The process of up down, up down inflation recession is called this.
What is the business cycle?
When the government slows the creation of M2, this happens.
What is recession?
A country's economic prosperity, or their lack thereof, is directly related to this.
What is its legal system?
The raw material from which dollars are created in the Federal Reserve.
What is the monetary base (MB)?
These are qualities good money good money must have. (At least 2)
What are _____ and ______? (small, easy to move, widely desired, corrosion proof, scarce, hard to copy)
One way modern politicians can inflate, besides printing money.
What is using banks and the Federal Reserve to inflate?
The 2007-2009 recession was so severe that it caused a huge drop in this, making it a more dominant force than the money supply.
What is velocity?
This type of law states that there is no law higher than the government and an individual's rights are granted by the government.
What is Civil or Roman Law?
This had become the dominant political and economic philosophy by the 1960s.
What is socialism?
Silver was removed from dimes and quarters in this year.
What is 1965?
When people reject money and use a new currency like gold or silver.
What is the end of runaway inflation?
The year in which we experienced the worst recession since the Great Depression.
What is 1982?
The opposite of original American philosophy, this states that political power is a good thing. It is seen in countries like Venezuela.
What is statism.