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IMPLICIT LOGROLLING: A type of voter logrolling in which two separate programs or policies are combined into a single package, which is then subject to a single vote. With implicit logrolling, each voter is "on record" only for the entire package and thus 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 alternative type of logrolling is explicit logrolling.
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Lesson 1: Economic Basics | Unit 5: Policies
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Page: 16 of 18
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Several problems prevent market deficiencies from being efficiently corrected by government action. Government imperfections: - Voter Apathy: When people don't vote, leaders don't know what the public really wants.
- Special Interest Groups: Those with influence, can adversely affect government policies.
- Re-election Minded Politicians: Leaders who please only a few, won't represent everyone.
- Complex Bureaucracies: Complexity keeps public workers from being responsible for their actions.
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MARGINAL PRODUCT The change in the quantity of total product resulting from a unit change in a variable input, keeping all other inputs unchanged. Marginal product, usually abbreviated MP, is found by dividing the change in total product by the change in the variable input. Marginal product, which occasionally goes by the alias marginal physical product (MPP), is one of two measures derived from total product. The other is average product.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors seeking to buy either a wall poster commemorating yesterday or pink cotton balls. Be on the lookout for door-to-door salesmen.
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This isn't me! What am I?
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Much of the $15 million used by the United States to finance the Louisiana Purchase from France was borrowed from European banks.
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"I much prefer the sharpest criticism of a single intelligent man to the thoughtless approval of the masses." -- Johannes Kepler, German Astronomer
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SFA
Securities and Futures Authority (UK)
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