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PERSONAL INCOME AND NATIONAL INCOME: Personal income (PI) is the total income received by the members of the domestic household sector, which may or may not be earned from productive activities during a given period of time. National income (NI) is the total income earned by the citizens of the national economy resulting from their ownership of resources used in the production, which may or may not be received by members of the household sector. Personal income can be derived from national income by subtracting income earned but not received (IEBNR) and adding income received but not earned (IRBNE).
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EXPLICIT LOGROLLING The straightforward, unambigous trading of votes to ensure a favorable outcome for two or more separate decisions. Commonly practiced in legislative bodies, explicit logrolling occurs when each of two voters agree to cast separate votes for two separate programs. The contrast is with implicit logrolling in which two separate programs or policies are combined into a single package, which is then subject to a single vote. Whether explicit or implicit, logrolling is generally used when neither decision is able to obtain the necessary majority of the votes needed for passage on their own accord.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time at a crowded estate auction hoping to buy either a T-shirt commemorating yesterday or a pair of handcrafted oven mitts. Be on the lookout for fairy dust that tastes like salt.
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This isn't me! What am I?
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Two and a half gallons of oil are needed to produce one automobile tire.
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"Concentrate all your thoughts upon the work at hand. The sun's rays do not burn until brought to a focus." -- Alexander Graham Bell, inventor
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NIFO
Next In First Out
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