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LOGROLLING: A systematic exchange of votes by politicians to obtain approval of specific legislation. That is, Senator Grapht agrees to vote for Senator Brybe's pet project if Senator Brybe votes for Senator Grapht's favorite piece of legislation. Such logrolling can be explicit or implicit. The explicit kind involves two separate bills, in which each politician is forced to "go on record" with a vote. The implicit kind, which many politicians favor, is where several separate programs are wrapped into a single bill. Every politician can then tell the folks back home that they really only wanted the "one thing" that helped their constituencies the most, but had to vote for "other things" as well. Logrolling is big reason our government is big and prone to inefficiency.

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Lesson 7: Market Equilibrium | Unit 5: The Method Page: 19 of 22

Topic: Too Little Production <=PAGE BACK | PAGE NEXT=>

This market has a 50-cent price and a 400-tape quantity in equilibrium.
  • Note the demand price and the supply price if the quantity is 300 tapes.
  • The demand price is 60 cents. This is the value of the good produced.
  • The supply price is 40 cents. This is the value of goods not produced.
  • Producing this quantity is the same as giving up 40 cents and getting 60 cents in return.
  • 300 tapes is not an efficient use of resources

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L

A broad monetary measure that combines M3 plus several liquid assets, including commercial paper, U.S. Treasury bills, savings bonds, and bankers' acceptances. L used to be tracked and reported by the Federal Reserve System along with M1, M2, and M3. However, L is no longer reported.

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APLS

GREEN LOGIGUIN
[What's This?]

Today, you are likely to spend a great deal of time browsing about a thrift store trying to buy either a solid oak entertainment center or a remote controlled ceiling fan. Be on the lookout for crowded shopping malls.
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This isn't me! What am I?

There were no banks in colonial America before the U.S. Revolutionary War. Anyone seeking a loan did so from another individual.
"Success is liking yourself, liking what you do, and liking how you do it."

-- Maya Angelou, Poet and Author

DPI
Disposable Personal Income
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