Termination of employment, for whatever reason. Quits may be initiated by the employee leaving voluntarily, for example to take a better job, or by the employer if an employee is unsatisfactory or redundant. Quits initiated by employees tend to be more common in booms than in slumps; quits initiated by employers tend to be higher in slumps than in booms.

• land
• landlord
• land use planning
• Laspeyres index
• last-in, first-out
• last resort, lender of
• laundering, money
• LAUTRO
• law of large numbers
• law of one price
• layoffs
• LBO
• LDC
• leader
• leading indicator
• leads and lags
• leakages from the circular flow of incomes
• learning by doing
• lease
• leasehold
• leasing
• least-developed countries
• least squares
• least-squares regression
• legal tender