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CAPITAL ACCOUNT: One of two parts of a nation's balance of payments. The capital is a record of all purchases of physical and financial assets between a nation and the rest of the world in a given period, usually one year. On one side of the balance of payments ledger account are all of the foreign assets purchase by our domestic economy. On the other side of the ledger are all of our domestic assets purchased by foreign countries. The capital account is said to have a surplus if a nation's investments abroad are greater than foreign investments at home. In other words, if the good old U. S. of A. is buying up more assets in Mexico, Brazil, and Hungry, than Japanese, Germany, and Canada investors are buying up of good old U. S. assets, then we have a surplus. A deficit is the reverse.
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UNIT ELASTIC An elasticity alternative in which changes in one variable (usually price) cause equal proportional changes in another variable (usually quantity). In other words, any change in price, whether big or small, triggers exactly the same percentage change in quantity. Quantity changes match price changes. This characterization of elasticity is most important for the price elasticity of demand and the price elasticity of supply. Unit elastic is one of five elasticity alternatives. The other four are perfectly elastic, perfectly inelastic, relatively elastic, and relatively inelastic.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time touring the new suburban shopping complex seeking to buy either any book written by Stephan King or a T-shirt commemorating next Thursday. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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A half gallon milk jug holds about $50 in pennies.
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"Never confuse a single defeat with a final defeat." -- F. Scott Fitzgerald, writer
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Korea Stock Exchange
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