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New rules in Congress have increased the power of committee chairs.
Budget Line
A visual chart showing every potential mix of two products that one can buy with a specific amount of money at constant prices.
Goods
Tangible items that satisfy human wants or needs, and that can be transferred from one person to another.
Income
The income earned, particularly consistently, from employment or investment returns.
Ordinal Utility
A concept in economics that describes how consumers rank different bundles of goods, reflecting preferences in terms of order rather than quantifiable satisfaction.
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