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HARD MONEY: Historically money that is in the form of precious metals, especially gold. In modern times, any national currency that is expected to retain its value (and even appreciate in value), and is readily acceptable for most international transactions. The U.S. dollar, German marc, and Swiss franc tend to be near the top of the list of hard money (also termed hard currency).
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EFFICIENT The state of resource allocation that exists when the highest level of consumer satisfaction is achieved from available resources. This state can be accomplished through markets when the price buyers are willing and able to pay for a good--based on the satisfaction obtained--is equal to the price sellers need to charge for a good--based on the opportunity cost of production.
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Natural gas has no odor. The smell is added artificially so that leaks can be detected.
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"Carpe diem! Rejoice while you are alive; enjoy the day; live life to the fullest; make the most of what you have. It is later than you think." -- Horace, Ancient Roman poet
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ALAC
Latin American Free Trade Area
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