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May 13, 2021 

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SEIGNIORAGE: The difference between the face value, or value in exchange, of money and the cost of producing the money. This seigniorage is effectively the profit government generates from producing currency--printing paper bills or minting metal coins. That is, government effectively "makes money" by making money.

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The AmosWEB QUIZ*tastic Testing System is a system of multiple choice exam questions that can be used to "practice up" for the real thing. To take a ten-question test on one of several economic topics, select your desired topic, then click the "Retrieve TEST" button. You can then submit your exam to be graded automatically. Return to this page to try another test.

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UNCERTAINTY

The observation and recognition that information, especially information about the future, is not known. While any number of events might occur in the future, uncertainty exists because which specific events will occur is unknown. A related concept is risk, which is assigning probabilities to potential future outcomes. Uncertainty is a central component in the economic study of information.

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A Somewhat Defective Look At PRODUCT SAFETY

WAIT! STOP! My shoe's untied! And my blasted shoestring is tangled! Fortunately I have my handy OmniStraight shoestring straightener, a product developed by a team of former NASA scientists that's designed to straighten and untangle even the most convoluted shoestrings. OOPS! You might want to continue your pedestrian journey without me. It seems as though my handy OmniStraight shoestring straightener has inadvertently dissected my shoestring, mangled the upper half of my jogging shoe, and introduced several gashes to the top of my foot. As I faint face-first onto the sidewalk from the loss of blood, you can consider some of the ins and outs of my predicament.
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Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club trying to buy either an ink cartridge for your printer or a rechargeable battery for your camera. Be on the lookout for malfunctioning pocket calculators.
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Much of the $15 million used by the United States to finance the Louisiana Purchase from France was borrowed from European banks.
"The tragedy of life is not so much what men suffer, but rather what they miss. "

-- Thomas Carlyle, Historian

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