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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 A curve that graphically represents the relation between average factor cost incurred by a 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 firm with no market control is horizontal. The average revenue curve for a firm with market control is positively sloped.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway wanting to buy either a graduation present for your niece or nephew or a toaster oven that has convection cooking. Be on the lookout for pencil sharpeners with an attitude.
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This isn't me! What am I?
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The 22.6% decline in stock prices on October 19, 1987 was larger than the infamous 12.8% decline on October 29, 1929.
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"God gives talent; work transforms talent into genius. " -- Anna Pavlova, ballerina
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NAV
Net Asset Value
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