Macroeconomics: Principles, Problems, & Policies
20th Edition
ISBN: 9780077660772
Author: Campbell R. McConnell, Stanley L. Brue, Sean Masaki Flynn Dr.
Publisher: McGraw-Hill Education
expand_more
expand_more
format_list_bulleted
Question
Chapter 5.A, Problem 3ARQ
To determine
Is the given statement is true or falls, why?
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
Outline the median voter theorem and explain its importance to the successfulapplication of a majority voting system.
All of the following statements are true about median voter theory, except:
Select the correct answer below:
The median voter is in the middle of the political spectrum.
The effects of the U.S. sugar lobby supports median voter theory.
Median voter theory suggests that if a candidate needs more than 50% to win an election, the best
way to win is to have median preferences.
The median voter theory argues that politicians will try to match policies to what pleases the
median voter preferences.
Arrow's impossibility theorem states that under certain assumptions about preferences, no voting system exists that satisfies all of the following properties:
•
Unanimity
•
Transitivity
•
Independence of irrelevant alternatives
•
No dictators
Chapter 5 Solutions
Macroeconomics: Principles, Problems, & Policies
Knowledge Booster
Similar questions
- The median voter theory argues that politicians will try to match policies to what Select the correct answer below: appeals to the voters on the right side of the political spectrum appeals to the preferences of the median voter appeals to the voters on the left side of the political spectrum O appeals to the majority voter preferencearrow_forwardhow does the election result change if a tax on non-voters doubles the number of voters while preserving the distribution of preferences?arrow_forwardWhat is the significance of the concept of rational ignorance? Question options: It explains why voters are swayed by single-issue voting. It explains why the majority of voters feel that their vote is important in determining the outcome of an election. It explains how false or exaggerated political advertising influences voting behavior. It explains why many people do not vote.arrow_forward
- The above table shows the benefit to each voter if an issue passes. The cost per voter of the issue passing is $100. According to Majority Rules voting, will the issue pass? According to marginal analysis, should the issue pass?arrow_forwardConsider the race for governor of a small state. The population of the state is evenly divided between three cities-Riverville, Hanover, and Danbury. The governor's race is between Ron Ruskin (the mayor of Riverville) and Ted Topple (the mayor of Hanover). Assume that no matter what is said during the campaign, Ruskin can count on the support of 100% of the Riverville population, and Topple can count on the support of 100% of the Hanover population. Assume 100% voter participation. According to the result of majority-rule voting, the next governor will be the one preferred by the majority of the residents of The two candidates are asked in a debate about their support of recreational subsidies. Public opinion polls in the city you just identified have shown the following about the level of recreational subsidies desired: • 70% want a low level 20% want a medium level • 10% want a high level Assuming that voters prefer outcomes closer to their preferred choices to outcomes further away,…arrow_forwardExplain why according to the theory of rational ignorance, an individual will decide not to participate in the election process (vote).arrow_forward
arrow_back_ios
arrow_forward_ios
Recommended textbooks for you
- Exploring EconomicsEconomicsISBN:9781544336329Author:Robert L. SextonPublisher:SAGE Publications, IncEconomics: Private and Public Choice (MindTap Cou...EconomicsISBN:9781305506725Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. MacphersonPublisher:Cengage Learning
- Microeconomics: Private and Public Choice (MindTa...EconomicsISBN:9781305506893Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. MacphersonPublisher:Cengage LearningEconomics (MindTap Course List)EconomicsISBN:9781337617383Author:Roger A. ArnoldPublisher:Cengage Learning
Exploring Economics
Economics
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:SAGE Publications, Inc
Economics: Private and Public Choice (MindTap Cou...
Economics
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:Cengage Learning
Microeconomics: Private and Public Choice (MindTa...
Economics
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:Cengage Learning
Economics (MindTap Course List)
Economics
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Cengage Learning