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Definition of GNP
See gross national product.
Measures and economy's total income. It is equal to GDP plus the income
gnp minus depreciation.
An equation determining aggregate output as a function of aggregate inputs such as labor and capital.
a method of allocating joint cost to joint products using a
An international bank headquartered in Basel, Switzerland, which
an incidental output of a joint process; it is salable,
A product that is an ancillary part of the primary production process, having
A material created incidental to a production process, which can be
a process costing document that
A U.S. corporation that receives a tax incentive for
an estimate of the number
an approximation of the number of whole units of output that could have been
An exchange arrangement formed in 1979 that involves the currencies
Offsetting exposures in one currency with exposures in the same or another currency,
A resource used to produce a good or service. The main macroeconomic factors of production are capital and labor.
Firm's net value of debt
Total firm value minus total firm debt.
Government National Mortgage Association (Ginnie Mae)
A wholly owned U.S. government corporation
grade (of product or service)
the addition or removal of product
Gross Domestic Product
Total output of final goods and services produced within a country during a year.
Gross domestic product (GDP)
The market value of goods and services produced over time including the
Interest earned before taxes are deducted.
Revenues less the cost of goods sold.
gross margin, or gross profit
This first-line measure of profit
Gross National Product
Total output of final goods and services produced by a country's citizens during a year.
The amount of earnings due to an employee prior to tax and other deductions.
The profit a company makes before expenses and taxes are taken away.
The difference between the price at which goods or services are sold and the cost of sales.
The result of subtracting cost of goods sold from sales. Synonymous with gross margin.
Revenue less cost of goods sold.
Gross profit margin
gross profit divided by sales, which is equal to each sales dollar left over after paying
Gross Profit Margin
gross profit divided by revenue.
The total sales recorded prior to sales discounts and returns.
The fraction of the gross proceeds of an underwritten securities offering that is paid as
International Bank for Reconstruction and Development - IBRD or World Bank
International Bank for Reconstruction and Development makes loans at nearly conventional terms to countries for projects of high
International Banking Facility (IBF)
International Banking Facility. A branch that an American bank
A collective term that refers to global bonds, Eurobonds, and foreign bonds.
International Depository Receipt (IDR)
A receipt issued by a bank as evidence of ownership of one or more
The attempt to reduce risk by investing in the more than one nation. By
International finance subsidiary
A subsidiary incorporated in the U.S., usually in Delaware, whose sole
International Fisher effect
States that the interest rate differential between two countries should be an
international Fisher effect
Theory that real interest rates in all countries should be equal, with differences in nominal rates reflecting differences in expected inflation.
A mutual fund that can invest only outside the United States.
A mutual fund that can invest in securities issued anywhere outside of Canada.
Related: See external market.
International Monetary Fund
An organization founded in 1944 to oversee exchange arrangements of
International Monetary Fund (IMF)
Organization originally established to manage the postwar fixed exchange rate system.
International Monetary Market (IMM)
A division of the CME established in 1972 for trading financial
See foreign exchange reserves.
Internet business model
a model that involves
a mechanism for sharing information and delivering data from corporate databases to the local-area network (LAN) desktops
Investment product line (IPML)
The line of required returns for investment projects as a function of beta
A product that has the highest sales value from among a group of products
The technique of stripping all non-value-added activities from
London International Financial Futures Exchange (LIFFE)
A London exchange where Eurodollar futures
London International Financial Futures Exchange (LIFFE)
London exchange where Eurodollar futures as well as futures-style options are traded.
School of economic thought stressing the importance of the money supply in the economy. Adherents believe that the economy is inherently stable, so that policy is best undertaken through adoption of a policy rule.
Proposal that the money supply be increased at a steady rate equal approximately to the real rate of growth of the economy. Contrast with discretionary policy.
Any measure of the economy's money supply.
See money base.
Gold held by governmental authorities as a financial asset.
Monetary / non-monetary method
Under this translation method, monetary items (e.g. cash, accounts
Actions taken by the Board of Governors of the Federal Reserve System to influence the
Actions taken by the central bank to change the supply of money and the interest rate and thereby affect economic activity.
Monetizing the Debt
See printing money.
A firm that operates in more than one country.
The debt owed by the government as a result of earlier borrowing to finance budget deficits. That part of the debt not held by the central bank is the publically held national debt.
National Futures Association (NFA)
The futures industry self regulatory organization established in 1982.
GDP with some adjustments to remove items that do not make it into anyone's hands as income, such as indirect taxes and depreciation. Loosely speaking, it is interpreted as being equal to GDP.
National Income and Product Accounts
The national accounting system that records economic activity such as GDP and related measures.
Related: internal market
Private saving plus public saving. That part of national income which is not spent on consumption goods or government spending.
A government takeover of a private company.
Net adjusted present value
The adjusted present value minus the initial cost of an investment.
Net advantage of refunding
The net present value of the savings from a refunding.
Net advantage to leasing
The net present value of entering into a lease financing arrangement rather than
Net advantage to merging
The difference in total post- and pre-merger market value minus the cost of the merger.
net asset value
The value of all the holdings of a mutual fund, less the fund's liabilities.
Net asset value (NAV)
The value of a fund's investments. For a mutual fund, the net asset value per share
The difference between total assets on the one hand and current liabilities and noncapitalized longterm
Net benefit to leverage factor
A linear approximation of a factor, T*, that enables one to operationalize the
Net book value
The current book value of an asset or liability; that is, its original book value net of any
Net Cash after Operations
Cash flow available for debt service—the payment of interest and principal on loans. Generally calculated as cash provided by operating activities before interest
Net cash balance
Beginning cash balance plus cash receipts minus cash disbursements.
This is the difference between a day's last trade and the previous day's last trade.
net cost of normal spoilage
the cost of spoiled work less the estimated disposal value of that work
Net Domestic Product
GDP minus depreciation.
Net errors and omissions
In balance of payments accounting, net errors and omissions record the statistical
Exports minus imports.
Net financing cost
Also called the cost of carry or, simply, carry, the difference between the cost of financing
Sum of disbursement float and collection float.
Difference between payment float and availability float.
The company's total earnings, reflecting revenues adjusted for costs of doing business,
The profit a company makes after cost of goods sold, expenses, and taxes are subtracted from net sales.
The last line of the Income Statement; it represents the amount that the company earned during a specified period.
The excess of revenues over expenses, including the impact of income taxes.
net income (also called the bottom line, earnings, net earnings, and net
The current inventory balance, less allocated or reserved items.
gross, or total, investment minus depreciation.
Investment spending minus depreciation.
A lease arrangement under which the lessee is responsible for all property taxes, maintenance
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