What is the median voter model? Describe four different ways in which this theory is predicted to impact the behavior of political candidates
The median voter model suggests that candidates in a two-person political race will have a tendency to move to a position in the center of the distribution of views, matching the preferences of the median voter. The theory predicts that candidates will: 1 ) label their opponent as too far right (or left, whichever is appropriate); 2 ) call themselves middle-of-the-roaders; 3 ) take polls and modify their positions to become more like their opponent (if they are losing in the polls); 4 ) speak in general, instead of specific, terms.
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Which of the following is the best example of a quota?
A) a limit on the quantity of residential air conditioners that can be imported from a foreign country B) a $150 fee imposed on all imported residential air conditioners C) a tax placed on all residential air conditioners sold in the domestic market to help offset the impact of emissions on the environment D) a subsidy from the U.S. government to domestic manufacturers of residential air conditioners to enable them to compete more effectively with foreign producers
Answer the following statements true (T) or false (F)
1) Disposable income measures the before-tax income received by resource suppliers. 2) NDP can be determined by adding taxes on production and imports to GDP. 3) If nominal GDP is 150 and the GDP price index is 200, real GDP is 75. 4) If real GDP is 50 and nominal GDP is 100, the GDP price index is 200. 5) Real GDP accounts for changes in product quality; nominal GDP does not.