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YTM: The common abbreviation for yield to maturity, which is 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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LONG-RUN AVERAGE COST CURVE, DERIVATION The long-run average cost curve is the envelope of an infinite number of short-run average total cost curves, with each short-run average total cost curve tangent to, or just touching, the long-run average cost curve at a single point corresponding to a single output quantity. The key to the derivation of the long-run average cost curve is that each short-run average total cost curve is constructed based on a given amount of the fixed input, usually capital. As such, when the quantity of the fixed input changes, the short-run average total cost curve shifts to a new location.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time driving to a factory outlet seeking to buy either a large green chalkboard shaped like the state of Maine or a replacement battery for your pocket calculator. Be on the lookout for celebrities who speak directly to you through your television.
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The penny is the only coin minted by the U.S. government in which the "face" on the head looks to the right. All others face left.
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"It's usually the last ounce of effort that tips the scales of success." -- Rick Beneteau
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CLI
Cost of Living Index
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