Arthur O'Sullivan (born 1953) is an American economist, Professor of Economics at Lewis & Clark College, [1] and author of college textbooks on economics.
Economics is the social science that studies the production, distribution, and consumption of goods and services.
Lewis & Clark College is a private liberal arts college in Portland, Oregon. It has an undergraduate College of Arts and Sciences, a School of Law, and a Graduate School of Education and Counseling.
The International Standard Book Number (ISBN) is a numeric commercial book identifier which is intended to be unique. Publishers purchase ISBNs from an affiliate of the International ISBN Agency.
In economic theory, imperfect competition is a type of market structure showing some but not all features of competitive markets.
A capital gain refers to profit that results from a sale of a capital asset, such as stock, bond or real estate, where the sale price exceeds the purchase price. The gain is the difference between a higher selling price and a lower purchase price. Conversely, a capital loss arises if the proceeds from the sale of a capital asset are less than the purchase price.
Capital loss is the difference between a lower selling price and a higher purchase price, resulting in a financial loss for the seller.
Urban economics is broadly the economic study of urban areas; as such, it involves using the tools of economics to analyze urban issues such as crime, education, public transit, housing, and local government finance. More narrowly, it is a branch of microeconomics that studies urban spatial structure and the location of households and firms.
In United States law, a finance charge is any fee representing the cost of credit, or the cost of borrowing. It is interest accrued on, and fees charged for, some forms of credit. It includes not only interest but other charges as well, such as financial transaction fees. Details regarding the federal definition of finance charge are found in the Truth-in-Lending Act and Regulation Z, promulgated by the Federal Reserve Board.
A 'financial system' is a system that allows the exchange of funds between lenders, investors, and borrowers. Financial systems operate at national and global levels. They consist of complex, closely related services, markets, and institutions intended to provide an efficient and regular linkage between investors and depositors.
Light industry is industries that usually are less capital-income intensive than heavy industry and is more raw material-oriented than business-oriented, as it typically produces smaller consumer goods. Most light industry products are produced for end users rather than as intermediates for use by other industries. Light industry facilities typically have less environmental impact than those associated with heavy industry. For that reason zoning laws are more likely to permit light industry near residential areas.
In economics, a durable good or a hard good is a good that does not quickly wear out, or more specifically, one that yields utility over time rather than being completely consumed in one use. Items like bricks could be considered perfectly durable goods because they should theoretically never wear out. Highly durable goods such as refrigerators or cars usually continue to be useful for three or more years of use, so durable goods are typically characterized by long periods between successive purchases.
In economics, a duty is a kind of tax levied by a state. It is often associated with customs, in which context they are also known as tariffs or dues. The term is often used to describe a tax on certain items purchased abroad. Properly, a duty differs from a tax in being levied on specific commodities, financial transactions, estates, etc. rather than on individuals. Duties may be import duties, excise duties, stamp duties, death or succession duties, etc.; but not such direct impositions as personal income taxes.
A certificate of incorporation is a legal document relating to the formation of a company or corporation. It is a license to form a corporation issued by state government or, in some jurisdictions, by non-governmental entity/corporation. Its precise meaning depends upon the legal system in which it is used.
Articles of partnership is a voluntary contract between/among two or more persons to place their capital, labor, and skills into business, with the understanding that there will be a sharing of the profits and losses between/among partners. Outside of North America, it is normally referred to simply as a partnership agreement.
An import quota is a type of trade restriction that sets a physical limit on the quantity of a good that can be imported into a country in a given period of time.
In economics, a gift tax is the tax on money or property that one living person gives to another. Items received upon the death of another are considered separately under the inheritance tax. Many gifts are not subject to taxation because of exemptions given in tax laws. The gift tax amount varies by jurisdiction, and international comparison of rates is complex and fluid.
Debt rescheduling is the lengthening of the time of debt repayment and forgiving, or dismissing, part of a loan.
In economics, the demand-pull theory is the theory that inflation occurs when demand for goods and services exceeds existing supplies. According to the demand pull theory, there is a range of effects on innovative activity driven by changes in expected demand, the competitive structure of markets, and factors which affect the valuation of new products or the ability of firms to realize economic benefits.
The Federal advisory council or (FAC) is a body composed of representatives chosen by each of the twelve Federal Reserve Banks that "consults with and advises the Board on all matters within the Board's jurisdiction."
In economics, free contract is the concept that people may decide what agreements they want to enter into.
In economics, the learning effect is the process by which education increases productivity and results in higher wages.
In economics, a market demand schedule is a tabulation of the quantity of a good that all consumers in a market will purchase at a given price. At any given price, the corresponding value on the demand schedule is the sum of all consumers’ quantities demanded at that price.
Steven M. Sheffrin is an economist who focuses on property tax limitations in the United States. He is the Director of Tulane University’s Murphy Institute and a Professor of economics. Sheffrin is an expert in state taxation and served as a member on Louisiana's state Task Force on the Structural Changes in Budget and Tax Policy in 2016.
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