Y Nation Learn Earn
https://t.me/y_nation_bot/start?startapp=HJ3U6X
Learn and Get points:
Week 1 – Money basics
Lesson 1 – What is Money?
– What is money?
Answer: A medium of exchange
– Coins were better than commodity money because:
Answer: They were easy to carry and count
– Why have people started exploring cryptocurrencies and new forms of money?
Answer: Modern money isn’t backed by anything
Lesson 2 – Backed Money vs. Fiat Money
– Paper money before the 1900s had stable purchasing power because…
Answer: It was backed by gold.
– Modern fiat money has value because…
Answer: The law makes it a legal tender
– What is the average lifespan of fiat currency?
Answer: 30 years
Lesson 3 – Money Printing and Inflation
– Money printing leads to:
Answer: Money losing value
– Savings don’t work as well as you’d like to because:
Answer: Inflation makes money lose value
– How much value has the US dollar lost in 50 years?
Answer: 85
https://t.me/y_nation_bot/start?startapp=HJ3U6X
Learn and Get points:
Week 1 – Money basics
Lesson 1 – What is Money?
– What is money?
Answer: A medium of exchange
– Coins were better than commodity money because:
Answer: They were easy to carry and count
– Why have people started exploring cryptocurrencies and new forms of money?
Answer: Modern money isn’t backed by anything
Lesson 2 – Backed Money vs. Fiat Money
– Paper money before the 1900s had stable purchasing power because…
Answer: It was backed by gold.
– Modern fiat money has value because…
Answer: The law makes it a legal tender
– What is the average lifespan of fiat currency?
Answer: 30 years
Lesson 3 – Money Printing and Inflation
– Money printing leads to:
Answer: Money losing value
– Savings don’t work as well as you’d like to because:
Answer: Inflation makes money lose value
– How much value has the US dollar lost in 50 years?
Answer: 85
