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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 11: Elasticity Basics | Unit 3: Measurement Page: 15 of 25

 Topic: Unit Review <=PAGE BACK | PAGE NEXT=>

In this unit, you should have learned about:
• The two types of elasticity measurements -- arc elasticity for discrete changes and point elasticity for infinitesimally small changes.
• The coefficient of elasticity used to quantify the elasticity concept.
• The endpoint formula for calculating the coefficient of elasticity.
• The midpoint formula for calculating the coefficient of elasticity.
• How the coefficient of elasticity differs using the endpoint and midpoint formulas.

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PROPRIETORS' INCOME

The official factor payment item in the National Income and Product Accounts maintained by the Bureau of Economics Analysis measuring the combined payments for all four factors of production used in owner-operated business firms. Specifically, proprietors' income is the excess of revenue over explicit production cost of owner-operated businesses and includes payments for labor, capital, land, and entrepreneurship. This is one of five official factor payments making up national income. The other four are compensation of employees, rental income of persons, net interest, and corporate profits. Proprietors' income is usually less than 10 percent of national income, typically in the 7 to 10 percent range.

 WHITE GULLIBON[What's This?] Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius looking to buy either a combination CD player, clock radio, and telephone (with answering machine) or a revolving spice rack. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.Your Complete Scope
 The word "fiscal" is derived from a Latin word meaning "moneybag."
 "Every man must decide whether he will walk in the light of creative altruism or in the darkness of destructive selfishness."-- Martin Luther King, Jr., clergyman