economics: section 9.2
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9 Terms
1
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specie
coined, metallic money
2
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debased
lowering the intrinsic value of coins by mixing in less valuable metals
3
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gresham’s law
“Bad money drives out good’; people will save stable forms of money and spend less stable forms instead
4
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face value
the value (dollar amount) that a type of $ has applied to it
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inflation
fill in the blank
money that does not meet its face value can lead to _______
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inflation
too much money in circulation; value decreases
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decreases
fill in the blank
with inflation, value _________
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deflation
less money in circulation; value increases
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increases
fill in the blank
with deflation, value __________
Note 
Flashcards (36)