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Wages and prices are many times higher today than they were 30 years ago, yet people do not work a lot more hours or buy fewer goods. How can this be?
Shares Outstanding
The total number of shares of a company that are currently owned by shareholders, including both public investors and company officers or insiders.
Borrow
To receive something of value with the promise to return it or its equivalent value at a future date.
Unlevered Cost
The cost of funding a project without any debt, reflective of the project's risk as if financed entirely by equity.
Annual Coupon
The yearly interest payment made to bondholders, typically expressed as a percentage of the bond's face value.
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