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December 19, 2018 

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LOAN LOSS RESERVES: A special account set aside by banks acting as a buffer between deposits and net worth that's used in case a loan is not repaid. Without this reserve, an unpaid loan on the asset side of a bank's balance sheet would require an adjustment of deposits or net worth on the liability side. The loan loss reserve is used for this adjustment.

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Lesson 12: Business Cycles | Unit 3: Measurement Page: 13 of 26

Topic: Leading <=PAGE BACK | PAGE NEXT=>

Leading economic indicators indicate business-cycle activity 3 or 12 months ahead. If leading indicators decline now, then the economy is likely to decline in 3 to 12 months.
  • Leading indicators are eleven statistics that precede changes in the economy.
  • Three notable leading indicators are stock market prices, the money supply, and consumer confidence.
  • The Composite Index of Leading Indicators, displayed in this chart, combines all eleven into a single number.
  • The Composite Index works better than individual indicators, but they are not perfect. Some declines not followed by a contraction.

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INNOVATION PROFIT

Economic profit, the difference between the total revenue received by a firm and the total opportunity cost of production, that is attributable to innovation, the initial application of new products, technologies, or ideas. Innovation profit is one of two sources of economic profit. The other is monopoly profit that arises due to market control. The generation of innovation profit is an important incentive that by rewarding individual innovative behavior enables society-wide benefits from the resulting innovations.

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PINK FADFLY
[What's This?]

Today, you are likely to spend a great deal of time searching the newspaper want ads trying 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 defective microphones.
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On a typical day, the United States Mint produces over $1 million worth of dimes.
"How wonderful it is that nobody need wait a single moment before starting to improve the world. "

-- Anne Frank, diarist

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