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LINE ITEM VETO: A policy intended to address the efficiency caused by legislative logrolling by giving executive officers who have veto authority over legislation (Presidents, Governors, Mayors), the ability to veto specific sections of a legislative act rather than the entire act. With a standard veto, the executive vetoes the entire piece of legislation. With line item veto, the executive can veto only parts of the legislation while signing the rest of it into law. While a line item veto is likely to reduce logrolling, it effectively gives the executive officer more power and authority.
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MARGINAL UTILITY OF INCOME The change in utility resulting from a given change in income. This is a specialized case of the general notion of marginal utility, which is simply the change in utility resulting from a given change in the consumption of a good. Marginal utility of income is key to identifying alternative risk preferences, including risk aversion, risk neutrality, and risk loving. These three risk preferences are indicated by three marginal utility of income possibilities, decreasing (risk aversion), increasing (risk loving), and constant (risk neutrality).
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time going from convenience store to convenience store looking to buy either a birthday greeting card for your grandmother or a coffee cup commemorating yesterday. Be on the lookout for the last item on a shelf.
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This isn't me! What am I?
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More money is spent on gardening than on any other hobby.
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"Don't judge each day by the harvest you reap, but by the seeds you plant." -- Robert Louis Stevenson, Author
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ISDA
International Swaps and Derivatives Association
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