What is the primary prediction of the median voter model? List the two key assumptions of the median voter model regarding the preferences of voters
What will be an ideal response?
The median voter model examines collective decision-making by majority rule and concludes that a majority rule voting system will select the outcome preferred by the median voter. The first key assumption of the median voter model is that voters are assumed to be able to place all possible election outcomes along a one-dimensional continuum. The second key assumption is that voters have single-peaked preferences. That is, they prefer outcomes closer to their preferred outcome to outcomes farther away from their preferred outcome.
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Research has shown that the inflation in a country is:
A) always high if there is a fixed exchange rate. B) always low if there is a flexible exchange rate. C) not dependent on the choice of exchange rate regime. D) higher in developing countries coming out of hyperinflation.
An increase in labor supply would cause the IS curve to
A) shift up and to the right. B) shift down and to the left. C) remain unchanged. D) shift up and to the right only if people face borrowing constraints.