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YIELD TO MATURITY: 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 1: Economic Basics | Unit 3: The Economy
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Page: 9 of 18
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Topic:
A Mixed Economy: The Mix
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A pure market economy and a pure command economy are two theoretical extremes in the allocation of resources. - Real world economies form a continuum bounded by these two extremes. They are mixed economies:
- A mixed economy is one that relies on both markets and government to allocate resources.
- Market-oriented economies, also called capitalism, are mixed economies that lean heavily to the market end.
- Socialism and communism are mixed economies that lean more (a lot more) toward government control.
The mixed U.S. economy leans heavily to the market end of the market-government continuum.
Three indicators of government involvement:- Taxes: Government controls about 1/3 of the revenue generated in the economy each year.
- Spending: Government buys 20% of the goods produced each year.
- Regulations: Government influences many allocation decisions through laws, rules, and other restrictions.
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SLOPE, LONG-RUN AGGREGATE SUPPLY CURVE The long-run aggregate supply (LRAS) curve is a vertical line with an infinite slope, reflecting the independent relation between the price level and aggregate real production. A higher price level is associated with the same real production as a lower price level. This is the real production generated when resources are fully employed, that is, full-employment production.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time searching for rummage sales hoping to buy either a flower arrangement with daisies and carnations for your uncle or a coffee cup commemorating next Thursday. Be on the lookout for jovial bank tellers.
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Ragnar Frisch and Jan Tinbergen were the 1st Nobel Prize winners in Economics in 1969.
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"Act well at the moment, and you have performed a good action for all eternity." -- Johann Kaspar Lavater
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