Examlex
There are three voters and two representatives in a democracy. Voter 1 supports government spending of $20. Voter 2 supports government spending of $60. Voter 3 supports government spending of $70. According to the median voter theorem, politicians will converge upon a spending bill of:
Annually
Occurring every year or pertaining to a period of one year.
Consumer Credit-Card Rate
The interest rate that banks charge consumers on the balances they carry on their credit cards.
Prime Rate
The interest rate that commercial banks charge their most creditworthy customers, often used as a benchmark in lending rates.
Economic Resource
Any resource used by humans to produce goods or services, including labor, capital, land, and entrepreneurship.
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