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public commodities problem (H4) Deciding how much of a public commodity to have when it is not clear whether the commodity is a GOOD at all in the sense of conferring a net benefit on a society.<br /><em>See also:</em> public good
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Proposition 13 (H2)<br />A proposition made binding on the State of California (USA) in 1978 to reduce the amount of taxation on residential property. It was believed that residential property owners were paying an unfair amount of taxation compared with business. The proposition reduced the assessed values of
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