Continental Currency and Wartime Inflation
Written by Adi Ackerman, Head Teacher
"Continental Currency and Wartime Inflation" is written for 8th Grade (Ages 13-14), and it covers C3 Framework D2.Eco.12.6-8. A 7th grader who is already steady on Economics and Money can use it too, and an older student can use it as a short review.
2 pages in this set
8th grade social studies worksheet: build a price index for corn and find inflation rates as Continental paper money lost value. Answer key included. Part of our money, banks and inflation collection. Aligned to C3 Framework standards.
How do I use this worksheet?
Work the inflation example in the box first. Then use the bank sheet to show how loans and notes can push prices up.
What students will practice
- Students will define inflation, purchasing power and a price index.
- Students will find inflation rates for corn between 1777 and 1780.
- Students will explain how inflation hurt soldiers paid in paper money.
Mercantilism and the Navigation Acts
The Embargo of 1807 and Its Cost
Costs and Benefits of the Erie Canal
Shortage and Surplus in a Confederate Salt Market
Price Controls During the American Revolution
Supply and Demand in Gold Rush San Francisco
Supply or Demand Shifts in American History
Scarcity and Rationing in American History
Curriculum Links
C3 Framework for Social Studies State Standards
Social Studies · 8th Grade
Find this in the curriculum
Browse the grade, subject, and topic this belongs to.
FAQ
How do I use this money, banks and inflation worksheet?
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Work the inflation example in the box first. Then use the bank sheet to show how loans and notes can push prices up.
What does this worksheet teach?
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Build a price index for corn and find inflation rates as Continental paper money lost value. The directions on the page read: Read the box and the text. Then complete the price index row for question 1, using the formula in the box. An answer key is included.
Can I use this money, banks and inflation worksheet for homeschool or classroom?
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Yes, both. We made it for 8th grade Economics and Money, and it works the same at home or at school. At home, a student can work through it alone and then go over it with you, which shows quickly what is solid and what needs another look. In class it works as independent practice, homework or a warm-up, and you can print one copy or a full set.
How do you find an inflation rate?
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Subtract the old price from the new price and divide by the old price, then write it as a percent. A hat that goes from $2 to $3 has a 50 percent inflation rate.
Why did Continentals lose value?
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Congress had little gold or silver and no power to tax, so it kept printing paper money, more than $200 million by the end of 1779.
Why did state banks grow after 1833?
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Federal deposits moved to state banks, and no national bank pressed them to pay in gold or silver, so they made more loans and notes.
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Worksheet Details
| Grade | 8th Grade |
| Subject | Social Studies |
| Topic | Economics and Money |
| Standard | D2.Eco.12.6-8 |
| Pages | 2 pages |
| Difficulty | Medium |
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Mercantilism and the Navigation Acts
The Embargo of 1807 and Its Cost
Costs and Benefits of the Erie Canal
Shortage and Surplus in a Confederate Salt Market
Price Controls During the American Revolution
Supply and Demand in Gold Rush San Francisco
Supply or Demand Shifts in American History
Scarcity and Rationing in American History