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Labor Force
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The number of people employed plus the number of unemployed .
In Economics the people in the labor force are the suppliers of labor. In 2005, the worldwide labor force was over 3 billion people.
Normally, the labor force of a country (or other geographic...
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Labor Market
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The input/factor market in which households supply work for wages to firms that demand labor.
Labor markets function through the interaction of workers and employers. Labor Economics looks at the suppliers of labor services (workers), the demanders of...
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Labor Productivity
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Output per worker; the amount of output produced by an average worker in one hour.
Measured labor productivity Will vary as a function of both other input factors and the efficiency with which the factors of production are used (total factor productivity)....
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Lagging Indicator
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An economic data series that consistently moves with overall activity but turns up or down later that general economy.
It can be a measurable economic factor that changes after the economy has already begun to follow a particular pattern or trend or ...
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Large-dollar Funds Transfer System
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A funds transfer system through which large-dollar and High-priority funds transfers are made between participants in the system for their own account or on behalf of their customers.
Sometimes known as wholesale funds transfers systems.
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Late fee
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A fee charged when a payment is not received on time.
Some common bills which almost always have a late fee policy are credit card payments, mortgage and Student loan payments, and car loan payments.
A late fee, also known as a late fine or a past...
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Later stage finance
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Capital that private Equity firms generally provide to established, medium-sized companies that are breaking even or trading profitably.
The company uses the capital to finance strategic moves, such as expansion, growth, acquisitions and management buy-outs.
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Lead investor
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The firm or individual that organises a round of financing, and usually contributes the largest amount of capital to the deal.
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Lead Underwriter
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A investment bank or other financial outfit that has the primary directive for organizing an initial public stock offering, or a secondary offering for companies that are already publicly traded.
The lead underwriter Will usually work with other investment...
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Leading Indicators
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Components of an index released monthly by the U.S. Commerce Department's Bureau of Economic Analysis.
A measure used to predict the financial condition and stability of a particular industry or the economy in general, represented by such indicators as...
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Legal list
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List of legal investments for savings banks and Trust funds; determined by each state. also called Approved List. opposite of nonlegal.
A selection of eligible companies and investments, determined by Local state governments, for institutions such as insurance...
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Lehman Formula
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A compensation formula developed by Lehman Brothers for investment banking services.
The Lehman Formula is a formula to define the compensation a Broker should receive when handling a large transaction for a client. The formula usually applies to the entire...
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Lender of Last Resort
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An Institution, usually a country's Central Bank, that offers loans to banks or other eligible institutions that are experiencing financial difficulty or are considered highly risky or near collapse.
In the U.S. the Federal Reserve acts as the lender of...
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Letter of Wishes
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A letter of wishes is a document that purportedly has no legal status.
In fact the document is used to transmit the wishes of the creator or the alleged owner of the Trust to the trustee. A letter of wishes is a separate document and not a part of the...
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Lifeline Account
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A streamlined checking or Savings Account designed for Low-income customers.
These accounts Will usually have Low balance requirements and no monthly fees, and are offered by large banking institutions as a way to Offer basic banking services to the broad...
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Line of credit
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A line of credit is a Short-term loan for a specific amount which allows you to receive money to pay for routine or regular expenses, such as rent or equipment leases.
This type of loan allows you to borrow repeatedly - so that you repay and re borrow...
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Liquid asset
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A liquid asset has some or more of the following features. It can be sold (1) rapidly, (2) with minimal loss of value, (3) anytime within market hours.
The essential characteristic of a liquid market is that there are ready and willing buyers and sellers...
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Liquidity
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The ability to convert an investment into Cash with minimum capital loss.
A stock, Bond or commodity that has a great many units outstanding has liquidity and investors are therefore more inclined to seek out liquid investments so that their trading activity...
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Load Fund
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A Mutual Fund that comes with a sales charge or Commission.
The fund investor pays the load, which goes to compensate a sales intermediary (Broker, Financial Planner, investment advisor, etc.) for his or her time and expertise in selecting an appropriate...
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Loan-deposit ratio
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The amount of a bank's loans divided by the amount of its deposits at any given time.
The higher the ratio, the more the bank is relying on borrowed funds, which are generally more costly than most types of deposits.
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Local taxes
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In the USA, taxes paid by an individual to a Local state or county. These are deductible on the person's federal Tax return.
In the UK the nearest equivalent is the Tax paid by house owners to their Local council (council Tax). There is no Tax relief on...
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Lockbox
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A service offered by banks to companies in which the company receives payments by mail to a post office Box and the bank picks up the payments several times a day, deposits them into the company's account, and notifies the company of the Deposit.
Lock...
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Long-term liabilities
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Expenses, loans, and accounts payables due after one year or more.
It is recorded on the Balance Sheet, a company's liabilities for leases, Bond repayments and other items due in more than one year. A company's Long-term liabilities are accounted for...
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Look-Ahead Bias
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Bias created by the use of information or data in a study or simulation that would not have been known or available during the period being analyzed.
This Will usually lead to inaccurate results in the study or simulation.
If an investor is Back Testing...
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