A process of _____ among candidates in a representative democracy leads to the outcome preferred by the median voter

If we look back at inflation data since 1300, we see that

A) during the 20th century we have finally solved the problem of high inflation. B) the Industrial Revolution caused the highest inflation rates. C) the discovery of America caused prices to fall drastically. D) inflation has been highest in the 20th and 21st centuries. E) the most rapid inflation occurred prior to 1600.

The linkages of the interest-rate-based transmission mechanism of monetary policy are summarized as follows:

A) change in the money supply ? change in speculative balances ? change in transactions balances ? change in planned investment ? change in aggregate demand. B) change in the money supply ? change in planned investment ? change in government spending ? change in aggregate demand. C) change in the money supply ? change in interest rates ? change in planned investment ? change in aggregate demand. D) change in the money supply ? change in interest rates ? change in transactions balances ? change in government spending ? change in aggregate demand.