Word: annualized
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...Consider Japan," murmured the title of a book-length article in the Economist in 1962, a seminal work that introduced much of the outside world to a puzzle. In ruins just a few years before, Japan was by then growing its economy at a sustained annual rate of 9%, and doing so, moreover, by cheerfully throwing conventional wisdom out of the window. You could almost see the writer furrow his brow: How do they...
...coal stocks, the country should be able to produce enough oil from coal to replace 30% of its imports. For Davies, the logic of such figures is undeniable. "In 10 years, India and China will need 17 million bbl. a day, and that's more than Saudi Arabia's annual production," he says. "There's just a lot more coal reserves than oil reserves...
...Broad said that the endowment created by him and his wife would cover only about $20 million of the institute's annual $150 million budget, the rest of which would continue to be filled by federal grants...
...Harvard officials sent shock waves through academia last December by detailing a new financial-aid policy that will charge families making up to $180,000 just 10% of their household income per year, substantially subsidizing the annual cost of more than $45,600 for all but its wealthiest students. The move was just the latest in what has amounted to a financial-aid bidding war in recent years among the U.S.'s élite universities as they try to ease concerns over staggering tuition bills...
...least, a student whose family earns $90,000 would have to pay as little as $4,500 to go to Harvard but would get little to no financial aid to help cover Berkeley's annual cost of $25,000. A no-loan program "is not a sustainable solution for us," says Berkeley chancellor Robert Birgeneau, who is heading a task force charged with examining how to keep college affordable for all families in the state. "We'd likely not be able to help the poorest students as well down the line." (To see the evolution of the college dorm room...