Test 2 Flashcards
Whose job is it to enforce standards?
The civil government.
What type of discipline is required?
Self discipline.
What is unique about bartering?
Both parties are buyers and sellers.
What occurred when money metals became used often?
Fraud became easier.
What is coin clipping?
When people would shave a bit of gold off of the rim of coins.
What does market competition do?
Market competition pressures sellers to stay honest.
What do the shekel, talent, and Troy ounce have in common?
They are all units of weight.
How is money money?
Money is only money if we agree it’s money.
What did the prophets serve as?
God’s prosecuting attorneys.
When we’re gold coins outlawed in the US?
1934.
What do our scales represent?
Our scales are symbols of God’s justice.
Would a country with more honest money or less honest money likely win in war?
More honest money.
Is new wealth created in fraud?
No.
Does price go up or down with fraud?
Price goes down with fraud.
Who wins in fraudulent situations?
The ones who spend it fast.
