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PAR VALUE: The stated, or face, value of a legal claim or financial asset. For debt securities, such as corporate bonds or U. S. Treasury securities, this is amount to be repaid at the time of maturity. For equity securities, that is, corporate stocks, this is the initial value set up at the time it is issued. Par value, also called face value, is not necessarily, and often is not, equal to the current market price of the asset. A $10,000 U.S. Treasury note, for example, has a par value of $10,000, but might have a current market price of $9,950. The difference between par value and current price contributes to the yield or return on such assets. An asset is selling at a discount if the current price is less than the par value and is selling at a premium if the current price is more than the par value.
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INTERCEPT, SAVING LINE The intercept of the saving line indicates autonomous saving, saving that does not depend on the level of income or production. This can be thought of as the baseline level of saving that would be undertaken if income falls to zero. Autonomous saving is affected by the consumption expenditures determinants, which cause a change in the intercept and a shift of the saving line. The value of the intercept of the saving line is the negative of the value of the intercept of the consumption line.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time searching for a specialty store seeking to buy either a coffee cup commemorating last Friday (you know why) or a wall poster commemorating the first day of spring. Be on the lookout for the happiest person in the room.
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North Carolina supplied all the domestic gold coined for currency by the U.S. Mint in Philadelphia until 1828.
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"It is the mark of an educated mind to be able to entertain a thought without accepting it." -- Aristotle
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ICCH
International Commodities Clearing House
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