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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.
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FREE LUNCH The consumption of hunger-satisfying food products during the middle of the day, usually around the noon hour, the acquisition of which requires no payment by the consumer and presumably imposes no opportunity cost on society. The food is lunch, the acquisition is free, hence free lunch.
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There were no banks in colonial America before the U.S. Revolutionary War. Anyone seeking a loan did so from another individual.
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"When we do the best that we can, we never know what miracle is wrought in our life, or in the life of another." -- Helen Keller
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BEA
Bureau of Economic Analisys
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