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RELATIVELY ELASTIC: An elasticity alternative in which relatively small changes in price cause relatively large changes in quantity. In other words, quantity is very responsive to price. Relatively elastic should be compared with other elasticity alternatives--relatively inelastic, perfectly inelastic, perfectly elastic, and unit elastic.
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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.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time at a flea market hoping to buy either a battery-powered, rechargeable vacuum cleaner or a remote controlled World War I bi-plane. Be on the lookout for deranged pelicans.
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Three-forths of the gold mined each year is used to manufacture jewelry.
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"The true idealist pursues what his heart says is right in a way that his head says will work. " -- Richard Nixon, 37th US president
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IADB
Inter-American Development Bank
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