What Is an L-Shaped Recovery? An L-shaped recovery is a type of recovery characterized by a slow rate of recovery, with persistent unemployment and stagnant economic growth. L-shaped recoveries occur following an economic recession characterized by a more-or-less steep decline in the economy, but without a correspondingly steep recovery. When depicted as a line chart
What Is the Lesotho Loti (LSL)? The Lesotho loti (LSL) is the official currency of the Kingdom of Lesotho. One loti can be subdivided into 100 units known as lisente. LSL coins are issued in denominations of 1, 2, 5, 10, 20 and 50 lisente, and 1, 2 and 5 loti. LSL banknotes are issued
What Is Long-Term Care (LTC) Insurance? Long-term care (LTC) insurance is coverage that provides nursing-home care, home-health care, and personal or adult daycare for individuals age 65 or older or with a chronic or disabling condition that needs constant supervision. LTC insurance offers more flexibility and options than many public assistance programs, such as Medicaid.
What Is Last Twelve Months (LTM)? Last twelve months (LTM) refers to the timeframe of the immediately preceding 12 months. It is also commonly designated as trailing twelve months (TTM). LTM is often used in reference to a financial metric used to evaluate a company’s performance, such as revenues or debt to equity (D/E). Although
What Is a Lucas Wedge? A Lucas Wedge is a measure of the loss of potential gross domestic product (GDP) when the economy does not grow as fast as it would have given optimal policy choices. It shows how much higher living standards would have been without the inefficiencies created by poor policy decisions, also
Ludwig von Mises was an influential Austrian economist. He is known as an advocate of free-market capitalism and a staunch opponent of socialism and interventionism. Von Mises taught at the University of Vienna and New York University and published his most renowned work, Human Action, in 1940. Ludwig von Mises died on Oct. 10, 1973.
What Is a Lump-Sum Distribution? A lump-sum distribution is a one-time lump-sum payment from an amount of money owed to some party, rather than via payments broken into smaller installments. In certain cases, lump-sum distributions may receive special tax treatment. Lump-sum distributions are commonly associated with choosing how to receive windfall earnings, such as from winning
What Is a Lump-Sum Payment? A lump-sum payment is a monetary sum paid in one single payment instead of allocated into installments. They are commonly associated with pension plans and other retirement vehicles, such as 401(k) accounts, where retirees accept a smaller upfront lump-sum payment rather than a larger payment issued in installments over time.
What Is a Luxury Tax? A luxury tax is a sales tax or surcharge levied only on certain products or services that are deemed non-essential or accessible only to the super-wealthy. The luxury tax may be charged as a percentage of the purchase price, or as a percentage of the amount above a specified level.
What Are Luxury Automobile Limitations? The Luxury Automobile Limitation is the annual limit on the amount of depreciation that can be taken on a luxury car used for business purposes. This amount is indexed each year for inflation. The purpose of luxury automobile limitations is to control the type and amount of money spent on luxury
