What Are Strategic Petroleum Reserves? Strategic petroleum reserves (SPRs) are stockpiles of crude oil maintained by countries for release in the event of a supply disruption. The U.S. Strategic Petroleum Reserve (SPR) is the world’s largest with an authorized maximum capacity of 727 million barrels. The U.S. government has historically tapped into its SPR following manmade
What Is Glocalization? Glocalization is a combination of the words “globalization” and “localization.” The term is used to describe a product or service that is developed and distributed globally but is also adjusted to accommodate the user or consumer in a local market. A common example would be cars that are sold worldwide but adjusted to
What Is a Guaranteed Lifetime Withdrawal Benefit (GLWB)? A guaranteed lifetime withdrawal benefit (GLWB) is a rider to a variable annuity that provides a minimum payout level, even if market losses reduce the cash value of your contract. Most of these riders also allow you to make withdrawals from your cash value as needed. You
What Is a Guaranteed Minimum Accumulation Benefit? The guaranteed minimum accumulation benefit (GMAB) is a variable annuity rider that guarantees a minimum value to the annuitant after the accumulation period or another set period, usually somewhere close to 10 years. The GMAB rider protects the value of the annuity from market fluctuations. This optional benefit is available for
What Is GmbH? GmbH is an abbreviation of the German phrase “Gesellschaft mit beschränkter Haftung,” which means “company with limited liability.” It’s a suffix used after a private limited company’s name in Germany (vs. AG, for aktiengesellschaft, which is used to indicate a public limited company). GmbH is the equivalent of LLC (limited liability company)
What Is the Gambian Dalasi (GMD)? GMD is the abbreviation for the Gambian system of currency known as the Gambian dalasi. The Gambian dalasi is the official currency of the country of The Republic of Gambia, located along the coast of Western Africa. One delasi is composed of 100 butut. The word dalasi derives from
What Is a Guaranteed Minimum Income Benefit (GMIB)? A guaranteed minimum income benefit (GMIB) is an optional rider that annuitants can purchase for their retirement annuities. When the annuity has been annuitized, this specific option guarantees that the annuitant will receive a minimum value of payments on a regular basis, regardless of other circumstances. Key Takeaways A guaranteed minimum
What Is the Gross Margin Return on Investment (GMROI)? The gross margin return on investment (GMROI) is an inventory profitability evaluation ratio that analyzes a firm’s ability to turn inventory into cash above the cost of the inventory. It is calculated by dividing the gross margin by the average inventory cost and is used often
What Is the Geometric Mean? The geometric mean is the average of a set of products, the calculation of which is commonly used to determine the performance results of an investment or portfolio. It is technically defined as “the nth root product of n numbers.” The geometric mean must be used when working with percentages
George A. Akerlof is a New Keynesian economist, writer, and Professor Emeritus at the University of California, Berkeley. With A. Michael Spence and Joseph E. Stiglitz, he earned the 2001 Nobel Prize in economics for their analyses of information asymmetry. Akerlof is the author of Animal Spirits: How Human Psychology Drives the Economy, and Why
