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September 13, 2026 

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QUANTITY THEORY OF MONEY: A theory that states a given percentage change in the money supply leads to an equal percentage change in nominal gross domestic product. This theory is derived from the equation of exchange and is a cornerstone of the monetarists view of macroeconomics. A key assumption in translating the equation of exchange to the quantity theory of money is that the velocity of money is constant (or unaffected by the other key variables--output, price level, and money supply).

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SLOPE, PRODUCTION POSSIBILITIES CURVE

The numerical value of the slope of the production possibilities curve, which illustrates the alternative combinations of two goods that an economy can produce with given resources and technology, is the opportunity cost of producing the good measured on the horizontal axis.

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Fact 5: Our Necessary Evil

It's time to give up our attempts to enter the Merciless Monolithic Media Masters Cable Television Company, Inc. office and take care of other pressing business -- taxes. The next stop on our excursion through the economy is the Shady Valley City Hall, where we need to momentarily, and begrudgingly, pause so that I may pay my semi-annual property tax bill. This is the least enjoyable stop -- at least for me -- on our journey. Grumble. Grumble. Grumble.

Of course I hate to pay taxes! But, then again, who doesn't? Taxes are one of those annoying and evil necessities of life that simply can't be avoided.

Or can they? Do we have to pay taxes? A quick visit to a bookstore will produce dozens of books telling you how to avoid taxes by investing here or buying this or doing that. Better yet, if we could rid ourselves of the inefficient, bloated, incompetent, do-nothing government, then you and I wouldn't have to pay taxes. Right? We could use our hard-earned income to buy stuff that we want, rather than letting the inefficient, bloated, incompetent, do-nothing government spend it on stuff that we don't want, don't know anything about, and will never need. Right?
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[What's This?]

Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club trying to buy either high-gloss photo paper that works with your printer or a desktop calendar with all federal and state holidays highlighted. Be on the lookout for telephone calls from former employers.
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The portrait on the quarter is a more accurate likeness of George Washington than that on the dollar bill.
"Just as iron rusts from disuse, even so does inaction spoil the intellect. "

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