The first coin invented as a method of payment in 500 B.C.
Lowering the value of a currency either by removing gold or silver or by printing too much paper money
Monetary system whereby a currency’s value is fixed to a specific weight of gold; for example, the dollar was once fixed at a ratio of $35 to an ounce of gold.
The ideology dominant in Europe in the 15th through 17th centuries. It held that a nation’s power and wealth was achieved through accumulating piles of silver and gold. This mean encouraging exports and discouraging imports. Trade was seen as a form of economic warfare rather than a creator of wealth.
An extremely rapid fall in the value of a currency, manifested by prices rising more than 50 percent a month.
Study of the overall economy and major factors affecting it such as taxation and monetary policy.
Study of a particular sector of the economy, e.g., the auto industry.
Economic policies that amplify an existing business trend, such as reducing interest rates when the economy is booming.
Policies that work against an existing business trend, such as cutting taxes when the economy is depressed.
Policies, such as a currency devaluation, that supposedly give short-term help to one nation’s economy at the expense of other nations.
When an economy contracts for longer than six months.
The damaging combination of inflation and slow or no economic growth. Inflation + stagnation = Stagflation
Loans to high-risk borrowers.
The name given to the Federal Reserve’s massive buying of Treasury and mortgage securities to increase the money supply and suppress interest rates.
A currency whose value is not fixed either to another currency or to gold.
Digital currencies such as bitcoin.