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TOBIN'S Q: A financial measure of a firm's returns, calculated by dividing the market value of the firm (that is, the market value of its outstanding stock and debt) by the replacement costs of the firm's assets. According to James Tobin of Yale University, Nobel Laureate in Economics in 1981, if this ratio is greater than 1 it means that the firm is earning a rate of return higher than that justified by the costs of its assets. That is, Tobin suggested that the ratio of the market value of a firm to the replacement costs of its assets should be close to 1.
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INFLATIONARY GAP, KEYNESIAN MODEL The difference between equilibrium aggregate production achieved in the Keynesian model and full-employment aggregate production that occurs when equilibrium aggregate production is greater than full-employment aggregate production. An inflationary gap, also termed an expansionary gap, is associated with a business-cycle expansion. The prescribed Keynesian remedy for an inflationary gap is contractionary fiscal policy. This is one of two alternative output gaps that can occur when equilibrium generates production that differs from full employment. The other is a recessionary gap.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time touring the new suburban shopping complex seeking to buy either a green and yellow striped sweater vest or a Boston Red Sox baseball cap. Be on the lookout for strangers with large satchels of used undergarments.
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Potato chips were invented in 1853 by a irritated chef repeatedly seeking to appease the hard to please Cornelius Vanderbilt who demanded french fried potatoes that were thinner and crisper than normal.
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"Whenever an individual or a business decides that success has been attained, progress stops. " -- Thomas Watson Jr., IBM executive
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TSE
Toronto Stock Exchange
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