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April 1, 2026 

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GOLD STANDARD: Use of gold as the standard for valuing a nation's currency. A gold standard can take at least three different forms, most of which have been part of the American economic landscape. (1) Gold is used as the money in circulation. (2) Gold is used to back up paper money in circulation. This involves the use of something like a gold certificate, such that the number of certificates in circulation is the same as the amount of gold stored someplace like Fort Knox. (3) Gold is used to fix the exchange price of paper currency in circulation. In this case, the currency could, in principle, be exchanged for some predetermined amount of gold. In other words, the price of gold is fixed in terms of dollars.

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BROWN PRAGMATOX
Your compete MICRO*scope for today

You are the type of person who is hardworking and industrious, who knows your job and what needs to be done. Family and friends have given up asking you out for lunch because you never pick up the check. Today, you are likely to spend a great deal of time at a dollar discount store wanting to buy either a T-shirt commemorating the 2000 Olympics or a genuine fake plastic Tiffany lamp. Be on the lookout for strangers with large satchels of used undergarments. You should consider shopping at stores or businesses beginning with the letter A, but do not buy any products with a serial number or product code containing the number 714200. Your preferred shopping venue is thrift stores. Your special symbol is the comma (,).


Is this You?

As a Brown Pragmatox, you are down-to-earth and practical. You are hard working and industrious. You are frugal to the point that you might even refrain from making a purchase that you really, really need. Doing so often causes problems down the road. You definitely go with function over form and substance over style.


This isn't me! What am I?
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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Fact 7: Our Circular World

Our little excursion through the economy has had, thus far, its ups and downs. My cable bill remains permanently confused and my checking account has a large property-tax created imbalance, but at least the pain in my tooth stops before hitting my toes. I think we deserve a little rest and relaxation at the Shady Valley's own tourist mecca, Happy-Time Gala-World Fun-Land Extravaganza Amusement Park. Let's take a brief respite from our pedestrian trek and give the soles of our jogging shoes a well-deserved rest.

The Happy-Time Gala-World Fun-Land Extravaganza Amusement Park has the world famous Monster Loop Death Plunge roller coaster, guaranteed to make riders yearn for the pleasures of a Siberian forced labor camp. There's also the Enchanted Haunted Horror House filled with serial killers, chainsaw murders, and IRS auditors. For the more timid, and fortunately, for those more interested in the workings of our economy, the merry-go-round is the ride of choice.

Two familiar faces are enjoying the circular trip on their fiberglass ponies. The slender guy with the bushy mustache is Dan Dreiling, the drywall man. I had him repair a hole in my living room wall caused by an over-excited vacuum cleaner a few months back. The disgusted look on his dusty face tells me that I must have overlooked his $100 bill. The other recognizable rider is Pollyanna Pumpernickel a precocious pet store owner who has somehow neglected to pay me the $100 due for hamster-sitting services which I rendered a few weeks ago. Her furtive glances suggest that she is well aware of her liability.
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APLS

John Maynard Keynes was born the same year Karl Marx died.
"If we all did the things we are capable of doing, we would literally astound ourselves."

-- Thomas Edison

ECU
European Currency Unit
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