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April 5, 2020 

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ELASTIC SUPPLY: Relatively small changes in supply price cause relatively larger changes in quantity supplied. Elastic supply means that changes in the quantity supplied are relatively responsive to changes in the supply price. An elastic supply has a coefficient of elasticity greater than one. You might want to compare elastic supply to inelastic supply, elastic demand, and inelastic demand.

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RESERVES: The vault cash and deposits at the Federal Reserve System that banks use to complete day-to-day transactions.

     See also | bank | vault cash | Federal Reserve deposits | required reserves | legal reserves | excess reserves |


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RESERVES, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2020. [Accessed: April 5, 2020].


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MEDIAN VOTER PRINCIPLE

A public choice principle stating that the median voter, the voter with an equal number of votes on either side, determines the outcome of an election by determining which side receives the majority. The preferences of this median vote, thus become the most important preferences addressed by candidates running for election. However, the median voter's preferences might not generate was is best, that is, efficient, for society. Other related voting problems identified by the study of public choice includes the voting paradox, logrolling, and voter apathy (due to rational ignorance and rational abstention).

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Today, you are likely to spend a great deal of time watching the shopping channel trying to buy either a pair of handcrafted oven mitts or a coffee table shaped like the state of Florida. Be on the lookout for slightly overweight pizza delivery guys.
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