What does inflation mean?
AnswerA general rise in prices over time
Inflation means prices rise overall, so each unit of money buys a little less.
Money · Facts & stats
Money facts & stats
7 fact-checked facts about money, each with the reason behind it. 5 more are in today's round and join this page after it closes.
The basics
What is the currency of Japan?
AnswerThe yen
Japan's currency is the yen; the won is Korea's, the yuan China's and the rupee India's.
Going deeper
What is compound interest?
AnswerInterest earned on both the original amount and past interest
With compound interest, earned interest is added to the balance and itself earns interest.
Which shells were used as money in parts of Africa and Asia?
AnswerCowrie shells
Small, durable cowrie shells were used as currency across Africa, South Asia and China for centuries.
The word "salary" comes from a Latin word linked to which substance?
AnswerSalt
'Salary' comes from Latin salarium, which is related to sal, meaning salt.
Expert level
The Micronesian island of Yap is famous for money made of what?
AnswerLarge carved stone discs
Yap's rai stones are large limestone discs, some taller than a person, used to mark value and ownership.
Who wrote "The Wealth of Nations", published in 1776?
AnswerAdam Smith
Scottish thinker Adam Smith's 1776 book laid foundations for modern economics.
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