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MARGINAL PROPENSITY FOR GOVERNMENT PURCHASES: The proportion of each additional dollar of national income that is used for government purchases. Or alternatively, this is the change in government purchases due to a change in national income. Abbreviated MPG, the marginal propensity for government purchases is the slope of the government purchases line used in the analysis of Keynesian economics. As such, it also plays a role in the slope of the aggregate expenditure line and the multiplier effect.

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EXPLICIT LOGROLLING: A type of voter logrolling in which each of two voters agree to cast separate votes for two separate programs or policies. With explicit logrolling, each voter must go "on record" as voting for each program. While explicit logrolling often contributes to government inefficiency, at the very least the voters can be held accountable for their voters. An alternative type of logrolling is implicit logrolling.

     See also | public choice | logrolling | implicit logrolling | majority rule | super majority rule | unanimity rule | plurality rule | Tiebout hypothesis | principal-agent problem | principle of the median voter |


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EXPLICIT LOGROLLING, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: February 11, 2025].


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SECOND RULE OF SUBJECTIVITY

The second of seven basic rules of the economy, stating that market prices are determined by subjective values and the preferences of buyers and resource owners. Contrary to popular opinion, prices and costs are not immutably facts of nature, but are ultimately based on what people are willing to pay or accept.

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BROWN PRAGMATOX
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Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius wanting to buy either a pair of designer sunglasses or looseleaf notebook paper. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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Potato chips were invented in 1853 by a irritated chef repeatedly seeking to appease the hard to please Cornelius Vanderbilt who demanded french fried potatoes that were thinner and crisper than normal.
"I can feel guilty about the past, apprehensive about the future, but only in the present can I act."

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