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Definition of Stagflation
Simultaneous existence of high inflation and high unemployment, or simultaneous existence of rising inflation and r sing unemployment.
A transaction in which the purchaser's intention is to reduce or eliminate a short position in
Also known as the range. The high and low prices, or bids and offers, recorded during the
A transaction in which the seller's intention is to reduce or eliminate a long position in a stock,
The time that elapses between receipt of payment from a customer and the
The act buying or selling the underlying asset via the option contract.
A contract that obligates a purchaser of a project's output to make cash
Refunding of a high-coupon bond with a new, lower coupon bond.
The highest (intraday) price of a stock over the past 52 weeks, adjusted for any stock splits.
Bank loan to a highly leveraged firm.
The rate at which the general level of prices for goods and services is rising.
Also called purchasing-power risk, the risk that changes in the real return the investor will
The fact that future inflation rates are not known. It is a possible contributing factor to
A clause in a contract providing for increases or decreases in inflation based on
Refers to the time it takes the receiver of a check to process the payment and
Manufactured housing securities (MHSs)
Loans on manufactured homes - that is, factory-built or
Net advantage to leasing
The net present value of entering into a lease financing arrangement rather than
Purchasing power parity
The notion that the ratio between domestic and foreign price levels should equal
Related: inflation risk
Relative purchasing power parity (RPPP)
Idea that the rate of change in the price level of commodities in
Entering the opposite side of a currently held futures position to close out the position.
SIMEX (Singapore International Monetary Exchange)
A leading futures and options exchange in singapore.
Single country fund
A mutual fund that invests in individual countries outside the United States.
Single factor model
A model of security returns that acknowledges only one common factor.
Single index model
A model of stock returns that decomposes influences on returns into a systematic factor,
Related: market model
A bond that will make only one payment of principal and interest.
Single-premium deferred annuity
An insurance policy bought by the sponsor of a pension plan for a single
The ratio of the number of people classified as unemployed to the total labor force.
The interim holding period from the time of the closing of a loan to its subsequent marketing to
The entries that transfer the balances in the revenue, expense, and dividend accounts to Retained earnings and zero out the revenue, expense, and dividend accounts for the next period.
An entry that is made at the beginning of the current period so that the systems and procedures do not have to be altered to allow for previously accrued items.
a technique used to determine the fixed
the actual time consumed performing the
the quoted price of inventory minus any
an integrated approach in which
A financial chart usually used to plot the high, low,
Rate at which prices as a whole are increasing.
purchasing power parity (PPP)
Theory that the cost of living in different countries is equal, and exchange rates adjust to offset inflation differentials across countries.
inflation whose initial cause is cost increases rather than excess demand. See also demand-pull inflation.
unemployment that increases when the economy enters a recession and decreases when the economy enters a boom.
inflation whose initial cause is excess demand rather than cost increases. See also cost-push inflation.
A reduction in the rate of inflation.
unemployment associated with people changing jobs or quitting to search for new jobs.
See money base.
A new house on which construction has just begun.
Extremely high inflation.
A sustained increase in the general price level. The inflation rate is the percentage rate of change in the price level.
The loss in purchasing power due to inflation eroding the real value of financial assets such as cash.
Institutionally Induced Unemployment
unemployment due to institutional phenomena such as the degree of labor force unionization, the level of discrimination, and government policies such as unemployment insurance programs, minimum wages, or regulations on business.
Natural Rate of Unemployment (NRU)
The level of unemployment characterizing the economy in long-run equilibrium, determined by the levels of frictional, structural, and institutionally induced unemployment. At this rate of unemployment, inflation should be constant, so it is sometimes called the nonaccelerating inflation rate of unemployment, or NAIRU.
Purchasing Power Parity
Theory that says that over the long run exchange rate changes offset any difference between foreign and domestic inflation. This result assumes that the real exchange rate remains constant, something that is not true even in the long run.
unemployment due to a mismatch between the skills or location of labor and the skills or location required by firms.
A program in which workers and firms pay contributions and workers collect benefits if they become unemployed.
Fraction of the labor force that is not employed.
Federal Unemployment Tax Act (FUTA)
A federal Act requiring employers to pay a tax on the wages paid to their employees, which is then used to create a
Advertising designed to elicit sales to customers who can be
Single-level bill of material
A list of all components used in a parent item.
Using a single supplier as the only source of a part.
The purchase of material for direct delivery to the production
High-Risk Small Business
Firm viewed as being particularly subject to risk from an investors perspective.
Contract granting use of real estate, equipment, or other fixed assets for a specified time in exchange for payment, usually in the form of rent. The owner of the leased property is called the lessor, the user the lessee.
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