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ZERO BOND: Also termed a zero coupon bond, a bond that does not pay interest, in which the return is generated by the difference between the purchase price and the face value paid at maturity. Because they do not pay interest, zero bonds are sold at a discount. For example, a $10,000 zero bond that matures in one year, would generate a 10% return if it sold at a discount of $9,000.
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Lesson 11: Circular Flow | Unit 3: Government
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Page: 12 of 22
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The government sector tends to be in the middle of most economic activity.- Taxes are collected by all levels of government, federal, state, and local.
- The green flow from the household sector to the government sector is taxes.
- This flow is household income diverted to the government sector.
Three basic uses of national income:- Consumption: Income used by the household sector to buy GDP.
- Saving: Income diverted to the financial markets for business sector borrowing for capital purchases.
- Taxes: Income diverted to the government sector for government purchases.
All three come from national income.
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ENTERPRISE An organization that combines scarce resources for the production and supply of goods and services. The term enterprise is generally used synonymously with other terms such as business, firm, and company. If a distinction exists, enterprise can be profit oriented, nonprofit, privately owned, or government controlled. Alternatively, the term enterprise might also be used more in reference to the production activity itself rather than the organization.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time at a garage sale trying to buy either a replacement washer for your kitchen faucet or a stretchable, flexible watch band. Be on the lookout for jovial bank tellers.
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The average bank teller loses about $250 every year.
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"Laughter is the shortest distance between two people. " -- Victor Borge, musician, humorist
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PO
Pareto Optimal
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