
YTM: The common abbreviation for yield to maturity, which is the annual rate of return on a financial asset that is held until maturity. Yield to maturity depends on both the coupon rate and the face or par value paid at maturity. If the selling price of a financial asset is equal to its par value, then the yield to maturity is equal to the current yield and the coupon rate. However, if the asset is selling at a discount, then the yield to maturity exceeds the current yield, which is greater than the coupon rate. And if the asset is selling at a premium, then the yield to maturity is less than the current yield, which is below than the coupon rate.
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Lesson 4: Production Possibilities  Unit 3: The Curve

Page: 11 of 24

The slope of a line is measured by calculating the change in the value measured on the vertical axis divided by the change in the value measured on the horizontal axis.  Another way of saying this is to take the rise over the run.
 rise  change in shoes  slope =   =     run  change in calibrators 
 Slope between I and J is 70. Rise is a decrease of 70. Run is an increase of 1.
The slope of the production possibilities curve is the opportunity cost of the good measured on the horizontal axis, which in our example is clock calibrators.






INCOME EFFECT The change in quantity demanded that results because a change in the demand price of a good affects real income (that is, the purchasing power of income) even though nominal income remains the same. This is one of two reasons, or effects, underlying the law of demand and the negative slope of the market demand curve. The other is the substitution effect.
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