Absolute advantage

Jul 5th, 2015
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Antioch University McGregor
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Absolute advantage: A country has an absolute advantageif its output per unit of input of all goods and services produced is higher than that of another country. Accelerator Principle - the growth in output that would induce a continuation in net investment.

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Absolute advantage: A country has an absolute advantageif its output per unit of input of all goodsand services produced is higher than that of another country.Accelerator Principle - the growth in output that would induce a continuation in net investment.Ad valorem tax:(in Latin: to the value added) - a tax based on the value (or assessed value) ofproperty. Ad valorem taxcan also be levied on imported items.Aggregate demand is the sum of all demand in an economy. This can be computed by adding theexpenditure on consumer goods and services, investment, and not exports (total exports minustotal imports).Aggregate supply is the total value of the goods and services produced in a country, plus the valueof imported goods less the value of exports.Alternative minimum tax: An IRS mechanism created to ensure that high-income individuals,corporations, trusts, and estates pay at least some minimum amount of tax, regardless ofdeductions, credits or exemptions. Alternative minimum tax operates by adding certain taxpreference items back into adjusted gross income. While it was once only important for a smallnumber of high-income individuals who made extensive use of tax shelters and deductions, moreand more people are being affected by it. The AMT is triggered when there are large numbers ofpersonal exemptions on state and local taxes paid, large numbers of miscellaneous itemizeddeductions or medical expenses, or by Incentive Stock Option (ISO) plans.Asset: Anything of m

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