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December 20, 2014 

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GREAT DEPRESSION: A period of time from 1929 to 1941 in which the economy experienced high rates of unemployment (averaging well over 10%), low production, and limited investment. This period of stagnation prompted radical changes in the way government viewed it's role in the economy and lead to our modern study of macroeconomics.

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PLURALITY RULE: A voting rule in which decisions are made based on a plurality of the votes cast. A plurality is defined as the most votes obtained when more than two candidates or options exist, but none receives a majority. If, for example, two of three candidates running for office receive 33 percent of the vote, then the third candidate with 34 percent receives the plurality. Presidential primary elections, which can have up to a dozen candidates, are commonly won with a plurality of the votes. This is one of several voting rules. Others include majority, super majority, and unanimity.

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


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PLURALITY RULE, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2014. [Accessed: December 20, 2014].


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FOUR ESTATES

A division of society based on the economic functions of consumption, production, regulation, and information that includes governments as the first estate, businesses as the second estate, consumers as the third estate, and journalists as the fourth estate.

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State of the ECONOMY

U.S. National Debt
November 7, 2014
$17,927,481,147,910.94
$56,135.06 per person: U.S. Debt Clock

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Today, you are likely to spend a great deal of time searching for a specialty store seeking to buy either semi-gloss photo paper that works with your neighbor's printer or a birthday gift for your father that doesn't look like every other birthday gift for your father. Be on the lookout for celebrities who speak directly to you through your television.
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The average bank teller loses about $250 every year.
"The greatest glory in living lies not in never falling, but in rising every time we fall. "

-- Nelson Mandela, statesman

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