Examlex
How is per capita GDP calculated,and what does it tell us about the economy?
Private Goods Consumption
The act of consuming goods that are excludable and rivalrous in nature, implying that one individual's consumption of the good prevents others from consuming the same unit of the good.
Clarke Tax
A taxation mechanism designed to make individuals reveal their true valuation for a public good.
Polluters
Entities that release pollutants into the natural environment, causing pollution and environmental harm.
Pareto Optimal
The allocation of resources in a manner that doesn't allow for the enhancement of one person's condition without the deterioration of another's.
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