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Explain the difference between descriptive and causal hypotheses.
Elite Democracy
A theory of democracy that suggests a small, socio-economically privileged group makes the most significant political decisions.
Political System
The system of government in a country, including the institutions, laws, activities, and principles that define how political power and authority are acquired, communicated, and exercised.
Coupon Rate
The annual interest rate paid by the issuer of a bond to the bondholder, typically expressed as a percentage of the bond's face value.
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