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S CORPORATION: A legal firm type that is officially structure as a corporation, especially with limited liability of the owners, but is able to avoid the double taxation of profits through the use of a special section of the Internal Revenue Service tax code (Chapter S). The profit of an S corporation is considered the income of its owners and is thus taxable only as individual income. There are, however, limits on who can be an owner of an S corporation.
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ADVERSE SELECTION An inefficient, bad, or adverse outcome of a market exchange that results because buyers and/or sellers make decisions based on asymmetric information. This commonly results in a market that exchanges a lesser quality good, what is termed the market for lemons. Two related problems resulting from asymmetric information are moral hazard and the principal-agent problem. Two methods of lessoning the problem of adverse selection are signalling and screening.
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BLACK DISMALAPOD
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Today, you are likely to spend a great deal of time flipping through mail order catalogs trying to buy either 500 feet of coaxial cable or a coffee cup commemorating the 1960 Presidential election. Be on the lookout for telephone calls from former employers.
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This isn't me! What am I?
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A half gallon milk jug holds about $50 in pennies.
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"All labor that uplifts humanity has dignity and importance and should be undertaken with painstaking excellence. " -- Martin Luther King Jr., civil rights leader
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DW
Durbin-Watson
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