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What is an aggregate? How is it used in macroeconomics? Give two examples of specific aggregates that are used in the study of macroeconomics.
Statement of Affairs
A detailed financial report prepared typically in the process of liquidation, showing the assets and liabilities of a company at a specific date.
Charged Assets
Assets that are used as security or collateral for a loan or obligation, ensuring the lender has rights to the asset if the borrower defaults.
Secured Creditor
Someone who has a ‘charge’ over some or all of the company’s assets, to secure a debt owed by the company.
Corporation Act
A legal framework that governs the creation, operation, and dissolution of corporations, detailing the regulatory environment for corporations and their stakeholders.
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