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YANKEE BOND: A bond issued with a dollar denomination in the United States by a foreign bank or corporation. This allows U.S. investors to invest in foreign securities without price fluctuations caused by exchange rates.
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INSURANCE A service that transfers the risk of loss from an individual to a larger group. The larger group is typically represented by an insurance provider, either a private for-profit company or a government agency. The insurance provider can assume the risk through risk pooling. Risk averse people, who are willing to pay a premium to avoid risk, are the ones most inclined to purchase insurance. The risk averse individual agrees to incur a small guaranteed loss (the premium) but avoids incurring a less likely, but much bigger, loss.
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Okun's Law posits that the unemployment rate increases by 1% for every 2% gap between real GDP and full-employment real GDP.
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"If you worried about falling off the bike, you'd never get on. " -- Lance Armstrong, bicycle racer
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AEC
Annual Equivalent Costs
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