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Annuit cœptis (/ ˈ æ n u ɪ t ˈ s ɛ p t ɪ s /, Classical Latin: [ˈannʊ.ɪt ˈkoe̯ptiːs]) is one of two mottos on the reverse side of the Great Seal of the United States. The literal translation is "[He] favors (or "has favored") [our] undertakings", from Latin annuo ("I approve, I favor"), and coeptum ("commencement, undertaking").
Transformation problem: The transformation problem is the problem specific to Marxist economics, and not to economics in general, of finding a general rule by which to transform the values of commodities based on socially necessary labour time into the competitive prices of the marketplace. The essential difficulty is how to reconcile profit in ...
A life annuity is an annuity, or series of payments at fixed intervals, paid while the purchaser (or annuitant) is alive.The majority of life annuities are insurance products sold or issued by life insurance companies however substantial case law indicates that annuity products are not necessarily insurance products.
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
The aggregation problem is the difficult problem of finding a valid way to treat an empirical or theoretical aggregate as if it reacted like a less-aggregated measure, say, about behavior of an individual agent as described in general microeconomic theory [1] (see representative agent and heterogeneity in economics). The second meaning of ...
Financial econometrics is the branch of financial economics that uses econometric techniques to parameterise the relationships identified. Mathematical finance is related in that it will derive and extend the mathematical or numerical
The title of this work means "household management" and is derived from the Greek word, οἶκος, oikos, meaning "house/household". The term includes household finance as it is commonly known today and also defines the roles members of the household should have. In a broad sense the household is the beginning to economics as a whole.
At the top [citation needed] of the seal stands a Latin phrase, "ANNUIT COEPTIS", meaning "He favors our undertaking." At the bottom of the seal is a semicircular banner proclaiming "NOVUS ORDO SECLORUM" meaning "New Order of the Ages" that is a reference to the new American era. To the left of this seal, a string of 13 pearls extends toward ...