A World of Money Viewing Guide

A World of Money Viewing Guide

  1. In ancient times, Roman soldiers were paid in ____________.
  2. The simplest form of trade is __________________.
  3. For many cultures, a good __________________ ______ ________________________ was farm animals.
  4. Give and take in the marketplace always determines the _______________.
  5. Back in 560 BC, merchants and traders in _______________ carried chunks of metal called electrum.
  6. Traders agreed on small ________________________ amounts of metal to use in buying things.
  7. All of a sudden, _______________ became the medium of exchange.
  8. The Lydians’ great invention, _______________, became something that could build an empire.
  9. Greek became the ________________________ of commerce.
  10. For 400 years, Greek ______________________ and civilization flourished.
  11. The _______________ __________________ spread commerce through most of southern and western Europe.
  12. The Roman Empire lasted for almost ____________ years.
  13. Roman emperors created a system in which wealth was _______________ and redistributed.
  14. The Roman emperors were ___________________________ their money.
  15. With the death of Rome, the world plunged into the ____________ ____________.
  16. _______________ _______________ was invented, controlled and printed by the Chinese government.
  17. Governments have declared that the money they print is _______________ __________________.
  18. Lawrence Reed is president of the Foundation for ________________________ Education.
  19. Prices help buyers and sellers recognize the ________________________ of goods and services.
  20. Saying prices have been rising is another way of saying the _______________ of money has gone down.
  21. It’s tough to print ____________, but you can print a lot of paper.
  22. Governments in effect are __________________ their citizens, who will have to pay those higher prices.
  23. How were coins an improvement over electrum and other commodities?
  24. When governments declare the money they print is “legal tender,” what does that mean?
  25. What function do prices serve? Why have prices been rising for years?
  26. How does inflation affect the value of money? How is inflation like a tax?
  27. What makes a rare baseball card valuable? What if—all of a sudden—someone found 100,000 of what had been a rare baseball card? How do you think the increase in supply would affect the price (value) of the card? Why? How is this similar to the way an increase in the money supply affects the value of money?
A World of Money Viewing Guide