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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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AVERAGE FACTOR COST CURVE, PERFECT COMPETITION A curve that graphically represents the relation between average factor cost incurred by a perfectly competitive firm for employing an input and the quantity of input used. Because average factor cost is essentially the price of the input, the average factor cost curve is also the supply curve for the input. The average factor cost curve for a perfectly competitive firm with no market control is horizontal. The average revenue curve for a firm with market control is positively sloped.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius wanting to buy either an instructional DVD on learning to the play the oboe or a small, foam rubber football. Be on the lookout for neighborhood pets, especially belligerent parrots.
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This isn't me! What am I?
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The word "fiscal" is derived from a Latin word meaning "moneybag."
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"Nobody can be successful unless he loves his work. " -- David Sarnoff, TV pioneer
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PIH
Permanent Income Hypothesis
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