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KEYNESIAN AGGREGATE SUPPLY CURVE: A modification of the standard aggregate supply curve used in the aggregate market (or AD-AD) analysis to reflect the basic assumptions of Keynesian economics. The Keynesian aggregate supply curve contains either two or three segments. The strict Keynesian aggregate supply curve contains two segments, a vertical classical range and a horizontal Keynesian range, meeting a right angle and forming a reverse L-shape. An alternative version replaces the right angle intersection with a gradual transition between the two segments that is positively sloped and termed the intermediate range. The modern aggregate supply curve is largely based on this intermediate range.
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IMPLICIT LOGROLLING: The trading of votes to ensure a favorable outcome for two or more separate decisions undertaken by combined both decisions into a single vote. Commonly practiced in legislative bodies, implicit logrolling occurs when two separate programs or policies are combined into a single package, which is then subject to a single vote. The contrast is with explicit logrolling in which each of two voters agree to cast separate votes for two separate programs. Whether implicit or explicit, logrolling is generally used when neither decision is able to obtain the necessary majority of the votes needed for passage on their own accord. Implicit logrolling is one of two types of "vote trading" practiced among voting government legislators to ensure the passage of specific laws; laws that would not necessarily be passed independently. With implicit logrolling, two or more decisions are combined into a single piece of legislation. To vote for their own project, each legislator must vote for the entire package, thus implicitly supporting the other projects. The basic presumption of logrolling is that neither program would obtain the necessary majority of the votes needed for passage on their own accord.The second type of political vote trading is explicit logrolling. In this case, each of two or more legislators agree to cast separate votes on separate issues. For example, legislator A agrees to vote for legislator B's pet project as long as legislator B agrees to vote for legislator A's favorite program. Each legislator is on record as supporting both issues. How it WorksTo see how implicit logrolling works, consider the actions of two hypothetical state legislators. Adam Zweller is an ardent environmentalist who favors alternative uses of solar energy and wants funding to finance research into solar powered bicycles. Ben Yurgen is a long-time critique of outdoor physical exercise and feels that a tax on running shoes would limit the number of joggers who pass him when he's walking his pet poodle.Each of these proposed pieces of legislation would have limited chances of passage by the state legislature on their own merits. Representative Adam actually enjoys jogging and does not necessarily favor a tax on running shoes. Representative Ben thinks solar energy is a hoax perpetrated on the public by the swimsuit industry and wants all bicycles banned, whether solar powered or not. The two representatives could explicitly trade votes, each agreeing to vote for legislation containing the other's project. This however might be too explicit for their constituencies. An alternative is to combined both projects into a single piece of legislation. They might even include other pet projects favored by other legislators. If so, then both Representatives Adam and Ben get their particular project passed only if the entire legislation is passed. Voting for one is voting for all. With explicit logrolling, each voter must go "on record" as voting for each program. However, with implicit logrolling, each voter is "on record" only for the entire package. Each voter can contend that a vote was cast only for "their" favored program. Implicit logrolling is commonly used by legislators to trade votes without appearing to trade votes. Legislators can come out in support of "their" programs, while simultaneously being against "other" programs, even though they actually voted for the "other" programs by voting for "their" programs, but they didn't really want to vote for the "other" programs and only voted for the "other" programs to ensure passage of "their" programs. An Explicit AlternativeElected representatives are often reluctant to "go on record" when trading votes. If so, they tend to use implicit logrolling. Explicit logrolling form occurs when each of two voters agree to cast separate votes for two separate programs or policies. For example, Representative Adam might agree to vote for legislation that places a tax on running shoes, favored by Representative Ben, as long as Representative Ben agrees to vote for legislation that finances research into solar powered bicycles, supported by Representative Adam. This logrolling is explicit because each proposal is contained in a separate piece of legislation. Each legislator is then required to cast a separate. explicit vote on each piece of legislation.
Recommended Citation:IMPLICIT LOGROLLING, AmosWEB Encyclonomic WEB*pedia, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: November 4, 2024]. Check Out These Related Terms... | | | | | | | | | | | | Or For A Little Background... | | | | | | | | | | | | And For Further Study... | | | | | | | |
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PINK FADFLY [What's This?]
Today, you are likely to spend a great deal of time flipping through the yellow pages looking to buy either a large flower pot shaped like a Greek urn or a small palm tree that will fit on your coffee table. Be on the lookout for mail order catalogs with hidden messages. Your Complete Scope
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Rosemary, long associated with remembrance, was worn as wreaths by students in ancient Greece during exams.
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"Kites rise highest against the wind, not with it. " -- Winston Churchill, British prime minister
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IBRD International Bank for Reconstruction and Development
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