Examlex
The three most widely followed stock indexes in the United States include all of the following except
Paradox of Voting
The situation where individual rationality does not lead to collective rationality, suggesting that the cost of voting outweighs the apparent benefits.
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).
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