The study of production and distribution of wealth
What is Economics
100
Unlike those made of gold or silver, these are worth the layers they are made of
What are clad coins
100
Incorrectly thought of as rising prices, this actually CAUSES rising prices. Its an increase in the supply of money.
What is Inflation
100
It's the unchangeable, worldwide fact of life which deals with production and distribution of wealth.
What is the Law of Economics
100
Prosperity, when business is growing
What is Boom
200
There ain't no such thing as one of these
What is a free lunch
200
Today, paper money. Originally, an IOU from a bank, usually for gold or silver.
What is a Banknote
200
Incorrectly thought of as decreasing prices, this is actually a reduction in the money supply that CAUSES prices to drop
What is Deflation
200
This one says that bad money drives good money out of circulation
What is Gresham's Law
200
When business are going out of business due to recession
What is Bust
300
The most easily traded think in a society.
What is money
300
Non-inflated money, usually a commodity money like gold or silver.
What is Hard Money
300
When too much unemployment and too much inflation occur at the same time. Think 1970's....
What is Stagflation
300
When this goes up, the price goes up. When this goes down, the price goes down.
What is the Law of Supply and Demand
300
What a person want in trade for what he has
What is a Price
400
The money a person gets for his work.
What is wages
400
Inflated money, usually legal tender
What is Soft Money
400
Characterized by business failures and unemployment, this is actually a correction period after an inflation
What is Depression
400
This law provides for punishment of anyone who refuses to accept what the government calls "money"
What is Legal Tender Law
400
A lot of business failure and unemployment, the correction period after inflation.
What is Depression
500
The goods and services people produce or convert to their use.
What is wealth
500
Money that changes hands quickly.
What is Hot Money
500
Hard to measure, hard to understand, and unable to predict, this term refers to how fast money changes hands.
What is Velocity
500
Meaning "whimsy", laws made up by lawmakers according to the rule: whatever appears necessary. Money is created this way rather than being backed by gold or silver
What is Fiat Law
500
Producing, buying, or selling something against the wishes of the government.