Examlex
True unified government is achieved only when the same ideological wing of the same party is in control of both the presidency and Congress.
Diminishing Utility
A principle in economics that as consumption of a good or service increases, the marginal utility derived from each additional unit decreases.
Fed
Short for the Federal Reserve, which is the central banking system of the United States, responsible for monetary policy.
Externalities
Costs or benefits that affect parties who did not choose to incur that cost or benefit, often leading to market failure if unaddressed.
Moral Hazard
A situation in which one party engages in risky behavior or lacks incentive to guard against risk because another party bears the consequences.
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