What Is the Silver Standard? The silver standard is a monetary system in which the value of a country’s national currency is backed by silver. It is similar in nature to its famous counterpart, the gold standard. The typical method for implementing a silver standard is to allow units of national currency to be converted
Who Was Simon Kuznets? Simon Kuznets, a Russian-American development economist and statistician, was awarded the 1971 Nobel Memorial Prize in Economics for his research on economic growth. He set the standard for national income accounting, enabling accurate estimates of gross national product to be calculated for the first time. Key Takeaways Simon Kuznets, a Russian-American
What Is Simple Interest? Simple interest is an interest charge that borrowers pay lenders for a loan. It is calculated using the principal only and does not include compounding interest. Simple interest relates not just to certain loans. It’s also the type of interest that banks pay customers on their savings accounts. The formula to
What Is a Simple Interest Bi-Weekly Mortgage? A simple interest bi-weekly mortgage is a mortgage payment plan in which the lender applies the borrower’s payments immediately toward the remaining principal balance of the mortgage. This differs from a traditional bi-weekly plan, in which the servicer of the mortgage holds the first payment received during a month until
What Is a Simple Random Sample? A simple random sample is a subset of a statistical population in which each member of the subset has an equal probability of being chosen. A simple random sample is meant to be an unbiased representation of a group. Key Takeaways A simple random sample takes a small, random
What Is a Sin Tax? A sin tax is and excise tax on specific goods and services due to their ability, or perception, to be harmful or costly to society. The tax comes at the time of purchase. Some items that often have a sin tax include tobacco products, alcohol, and gambling. Sin taxes seek to
What Is a Sin Stock? A sin stock is a publicly traded company involved in or associated with an activity that is considered unethical or immoral. Sin stocks are generally in sectors that deal directly with morally dubious actions. They are perceived as making money from exploiting human weaknesses and frailties. Key Takeaways A sin
What Is a Single Filer? Single filers are taxpayers who file their federal income tax returns with the Internal Revenue Service (IRS) under the status “single.” This filing status is used by unmarried taxpayers who don’t qualify for any other filing status. Key Takeaways Single filer status is for unmarried people who do not qualify
What Is a Single-Digit Midget? Single-digit midget is a slang term for a stock with a price that is below $10 per share after having traded at a much higher level. The term came into prominence in the early 2000s when Internet companies that had taken off in the late 1990s, called dot-coms, lost value rapidly
What Is a Single-Disbursement Lump-Sum Payment Plan? A single-disbursement lump-sum payment plan allows a borrower to receive all reverse mortgage proceeds at once when the loan closes. This means that there are no monthly disbursements or other additional proceeds later. The single-disbursement lump-sum payment plan has a fixed interest rate, unlike other reverse mortgage payment
