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HARD PEG: Establishing a fixed exchange rate between one national currency (usually that of a small country) and another national currency (usually that of an industrial power). One country, in other words, "pegs" the value of its currency to the value of another currency. This is commonly done by countries with a history of monetary instability is used as a means of restoring and maintaining order. This U.S. dollar is frequently used for a hard peg by other smaller nations. The result of a hard peg is to eliminate control by the pegging nation and relying on the actions of the targeting nation.
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Lesson 10: Gross Domestic Product | Unit 4: Measuring Income
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Page: 18 of 25
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The first three related, but slightly different income measures is national income (NI), income earned by the factors of production.- National income is the sum of wages (W), interest (I), rent (R), profit (P) and proprietors' income (PI):
NI = W + I + R + P + PI - National income is also found by subtracting capital consumption allowance (CCA) and indirect business taxes (IBT) from, and adding net foreign factor income (NFFI) to, GDP:
NI = GDP - CCA - IBT + NFFI - And because NDP = GDP - CCA:
NI = NDP - IBT + NFFI
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TAX EFFECTS The primary reason that governments collect taxes from members of society is to finance government operations and provide public goods. However, taxes also create disincentives to engage in the taxed activity, which causes a change in the allocation of resources. This two consequences of taxes are summarized in two essential tax effects -- the revenue effect and the allocation effect. While all taxes have both, the key to effective government is minimize the allocation effect if the goal is to generate revenue and to minimize the revenue effect if the goal is to change the allocation of resources.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time flipping through the yellow pages seeking to buy either a coffee cup commemorating the first day of spring or a printer that works with your stockpile of ink cartridges. Be on the lookout for the happiest person in the room.
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This isn't me! What am I?
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The wealthy industrialist, Andrew Carnegie, was once removed from a London tram because he lacked the money needed for the fare.
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"Old age isn't so bad when you consider the alternative. " -- Cato, Roman orator
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CFA
Cash Flow Accounting
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