Money Flashcards
1
Q
Who was held in a German PoW camp?
A
R.A. Radford
2
Q
What is Gresham’s Law?
A
Bad money drives out good
3
Q
What currency was used in Africa?
A
Cowrie Shells
4
Q
When was German Hyperinflation?
A
1923
5
Q
Seignorage
A
The difference between the cost of producing a coin and its nominal face value
6
Q
When was the Spanish Inflation and when did it happen?
A
16th century.
Silver mined from Peru following Columbus’ voyage was imported to Spain, where prices surged.
