Examlex
Suppose tastes for consumption now and consumption in the future have constant elasticity of substitution.It may then be the case that a tax on interest income is efficient even if savings (defined as current income not consumed) fall in response to the tax.
House of Representatives
The lower chamber of the United States Congress, consisting of representatives from each state based on population, responsible for creating federal legislation.
Ballot Initiative
A process that allows citizens to propose and enact laws directly through a vote, bypassing the legislature.
Recreational Marijuana
The use of cannabis for enjoyment rather than for medical purposes, legal in some states but illegal under federal law in the U.S.
Los Angeles City Council
The governing body of the City of Los Angeles, responsible for creating laws, policies, and making decisions on municipal matters.
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