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INCOME STATEMENT: A statement of the revenues, expenditures, and profit for a business, household, or government entity over a given period of time. An income statement also goes by the names profit and loss statement, earnings report, and operating statement. This is one of two key financial statements for an entity. The other is a balance sheet, which is a statement of assets, liabilities, and net worth at a given point in time.

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M3: The wide-range monetary aggregate for the U.S. economy containing the combination of M2 (currency, checkable deposits, and assorted savings deposits) and large-denomination, institutional near monies. M3 contains financial assets that are relatively liquid, but not quite as liquid as those found in M1 or M2. The near monies added to M2 to derive M3 include large denomination certificates of deposit, institutional money market mutual funds, repurchase agreements, and Eurodollars. M3 is one of three monetary aggregates tracked and reported by the Federal Reserve System. The other two are designated M1 and M2.

     See also | money | near money | certificate of deposit | repurchase agreement | monetary aggregate | money supply | M1 | M2 |


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M3, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2023. [Accessed: June 1, 2023].


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VOTING PARADOX

The possibility that the voting preferences of a group of individuals results in an inconsistent, or intransitive, ranking. While consistent, or transitive, ranking of preferences is expected for individuals, such might not occur for groups of voters. If a consumer prefers good A to good B and good B to good C, then it makes logical sense that the consumer also prefers good A to good C. The voting paradox arises because a group of individuals might prefer A to B and B to C, but then prefer C to A, an inconsistent and intransitive ranking of preferences. Other related voting problems identified by the study of public choice includes the median voter principle, logrolling, and voter apathy (due to rational ignorance and rational abstention).

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Today, you are likely to spend a great deal of time searching for a specialty store wanting to buy either a coffee cup commemorating the first day of winter or a video game player. Be on the lookout for small children selling products door-to-door.
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The first "Black Friday" on record, a friday marked by a major financial catastrophe, occurred on September 24, 1869 -- A FRIDAY -- when an attempted cornering of the gold market induced a financial crises and economy-wide depression.
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