Vocabulary
An IOU
What is bond
Money created by a legal tender law. Money not backed by gold or silver.
What is fiat money?
A strange exception to what would be expected.
What is anomaly.
A sudden strong surge of buying and selling.
What is run?
French paper money.
What is assignat?
The US Governments estimate of the overall price levels of goods purchased by consumers.
What is Consumer Price Index?
Law not derived from ethical principles.
What is fiat law?
Commonly used to mean a decrease in prices.
What is deflation?
The French paper money that replaced the assignat.
What is mandat?
To hold in place. Government forbidding raising prices or selling products.
What is freeze?
The government's estimate of the production of finished goods and services.
What is GNP Gross National Product?
An inflation in which prices are rising triple-digit (or more) rates per year.
What is hyperinflation?
A law forbidding farmers to sell grain to certain buyers.
What is grain embargo?
Someone who rules with absolute, arbitrary power and control.
What is dictator?
The privilege of using force on people who have not harmed anyone.
What is political power?
The price of renting money.
What is interest?
Not easily sold or traded.
What is illiquid?
The Soviet Union plus the nations it controlled.
What is Soviet Bloc?
Violent overthrow of the government by a small group of individuals.
What is coup d' etat?
The most easily traded thing in society.
What is money?
Money changing hands quickly.
What is hot money?
Easily sold or traded.
What is liquid?
Long time enemy of the United States made up of some of the following countries: Russia, Estonia, Latvia, Lithuania, Belarus and more.
What is the Soviet Union?
A hyperinflation. Prices rising rapidly.
What is runaway inflation?
People don't spend their money quickly, then people catch on and begin to spend their money at a quicker pace, and finally the whole population is in a panic.
What are the three stages of inflation?