Examlex
Which term would describe a future distribution of power in which China's economic and military power matched that of the United States?
Median-Voter Model
A theoretical model suggesting that the outcome of majority rule voting systems will reflect the preferences of the median voter.
Law of Diminishing Marginal Utility
The principle that as a person increases consumption of a product, there is a decline in the marginal utility that person derives from consuming each additional unit.
Ability-To-Pay Principle
The idea that those who have greater income (or wealth) should pay a greater proportion of it as taxes than those who have less income (or wealth).
Marginal Cost
the additional cost incurred to produce one more unit of a good or service.
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