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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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SLOPE, AGGREGATE DEMAND CURVE The negative slope of aggregate demand curve, reflecting the inverse relation between the price level and aggregate expenditures on real production, is attributable to three primary effects--real-balance effect, interest-rate effect, and net-export effect.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time flipping through the yellow pages wanting to buy either a pair of blue silicon oven mitts or a coffee cup commemorating the 2000 Olympics. Be on the lookout for door-to-door salesmen.
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In 1914, Ford paid workers who were age 22 or older $5 per day -- double the average wage offered by other car factories.
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"Managing intellectual assets has become the single most important task of business. " -- Thomas Stewart, author
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SWIFT
Society for Worldwide Interbank Financial Telecommunications
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