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Last sale |
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Last saleThe most recent trade performed in a security.Last sale Similar MatchesSLD last saleSLD last saleShortened version of "sold last sale," which shows up on the consolidated tape when a large change (one point for lower priced securities and two points for higher-priced securities) occurs between transactions. InelasticInelasticHaving an elasticity less than one. For a price elasticity of demand, this means that expenditure falls as price falls. For an income elasticity it means that expenditure share falls with income. Contrasts with elastic and unit elastic. Elasticity of demand for importsElasticity of demand for importsThis is normally the price elasticity of demand for imports of a country, either for a single industry or for the aggregate of all imports. The latter plays a critical role in determining how the country's balance of trade responds to the exchange rate. See Marshall-Lerner condition. Unit elasticUnit elasticHaving an elasticity equal to one. For a price elasticity of demand, this means that expenditure remains constant as price changes. For an income elasticity it means that expenditure share is constant. Homothetic preferences imply unit income elasticities. Contrasts with elastic and inelastic. Lender of Last ResortLender of Last ResortAn institution that has the capacity and willingness to make loans when no one else can. Within a country, the central bank may play that role, since it can create money. Some have argued that the IMF or other institution should play that role internationally, to avert financial crises. Further SuggestionsSupply elasticityLast in, first out (LIFO) Demand elasticity Elastic Income elastic Price elasticities Price elastic Arc elasticity Last Mile Issue Import elasticity Lender of last resort Elasticity last notice day Elasticity of demand for exports Price elasticity Elasticity of substitution Import demand elasticity Cross elasticity Point elasticity Income inelastic Price inelastic Perfectly elastic Armington elasticity Inelastic offer curve Constant elasticity of substitution function |
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