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POVERTY LINE: The official measure of the income needed by a family based on family size, location, and characteristics of the head of the household. The official U.S. poverty line is based on more of a relative poverty level rather than an absolute poverty level. For example, a family of two living in a rural area would need a different amount of money to stay above the official poverty line that would a family of four living in a city.
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VOTING PARADOX: The observation that voting by a relatively small group of people might generate a intransitive or inconsistent ranking of three or more alternatives, creating a paradox of rankings. The preferences of rational individuals are generally assumed to transitive and consistent, that is, if a person prefers A to B and B to C, then the person also prefers A to C. However, the preferences of group of voters might not be consistent. That is, as a group, voters might prefer A to B and B to C, but then prefer C to A. This is not only paradoxical and confusing, it also can be inefficient. See also | public choice | majority rule | super majority rule | unanimity rule | plurality rule | logrolling | explicit logrolling | implicit logrolling | Tiebout hypothesis | principal-agent problem | principle of the median voter |
Recommended Citation:VOTING PARADOX, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2023. [Accessed: March 25, 2023].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: voting paradox
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CORPORATE PROFITS The total accounting profits received by corporations. Corporate profits are the official item in the National Income and Product Accounts maintained by the Bureau of Economics Analysis that measures profit earned by the household sector for supplying entrepreneurship services through corporations, and to some degree capital and land services, too. 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 proprietors' income. Corporate profits the second largest factor payment category, usually coming in around 20 to 25 percent of national income.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time watching the shopping channel looking to buy either a black duffle bag with velcro closures or any book written by Isaac Asimov. Be on the lookout for crowded shopping malls.
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The average length of a "business lunch" is about 36 minutes.
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"Success is the ability to go from one failure to another with no loss of enthusiasm." -- Sir Winston Churchill
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MPI
Marginal Propensity to Invest
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