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The idea that taxes should be levied on a person according to how well that person can shoulder that burden.
The ability to produce more of a good or service than another producer using the same amount of resources as that producer.
resources tagged Absolute advantage »
Aggregate demand curve
A graphical depiction of the amounts of real output (gross domestic product or GDP) that buyers collectively desire to purchase at each possible price level.
Aggregate supply curve
A graphical depiction of the amounts of real output (gross domestic product or GDP) that businesses will choose to produce at each possible price level.
A process or set of rules to be followed in calculations or other problem-solving operations, especially by a computer.
The different possibilities to choose from in a given situation.
Annual percentage rate (APR)
The percentage cost of credit on an annual basis and the total cost of credit to the consumer. APR combines the interest paid over the life of the loan and all fees that are paid up front.
resources tagged Annual percentage rate (APR) »
A series of fixed payments of the same amount paid at regular intervals (i.e., every week, month or pay period) over a specified period of time.
FV = (A/i)[(1+i)n - 1], where:
FV = Future value is the amount that's not known, but will be solved in the calculation. It's the amount wanted in the future.
A = Annuity; annuities are the initial and subsequent payments (which must be the same amount).
i = Interest rate has a great effect on future value. The interest rate in the formula must be written in decimal form, such as 0.03 instead of 3%.
n = This is the number of periods, where "n" is the number of equal deposits that will be made.
An increase in value. Currency appreciation is an increase in the value of one currency relative to another.
A resource with economic value that an individual, corporation or country owns with the expectation that it will provide future benefits.
A sale of property to the highest bidder.
Automated teller machine (ATM) card
A form of debit card used in a cash machine to access an account by using a code or personal identification number.
A standing policy that activates automatically without intervention, usually during a recession.
An online payment that is automatically deducted from the account balance on a recurring basis.