Examlex
The Bakke case was significant because
Permanent Income Hypothesis
A theory suggesting that consumer spending is primarily determined by an individual's long-term income expectations rather than their current disposable income.
Stock Portfolios
Collections of stocks or equities owned by an individual or institution, diversified to manage risk and investment return.
Merrill Lynch
Merrill Lynch, now under Bank of America, is a prominent global wealth management, capital markets, and advisory company.
Realized Capital Gains
Realized capital gains refer to the profits earned from the sale of an asset, like stocks or real estate, which exceed the purchase price, and are only "realized" upon the sale of the asset.
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