The median voter model implies that:
a. most voters will have about the same preferences for goods and services provided through government
b. a candidate may adopt more extreme views when seeking her party's nomination than during the general election.
c. political voting will be as economically efficient as voting with dollars in competitive markets.
d. none of the above
b
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If the government institutes an investment tax credit and decreases income taxes,
a) real GDP falls, and the price level could rise, fall, or stay the same. b) real GDP and the price level fall. c) real GDP rises, and the price level could rise, fall, or stay the same. d) real GDP and the price level rise.
Agriculture, clothing, and textiles are singled out for treatment in the chapter because
A) they tend to be the most highly protected sectors of industrial economies. B) they tend to be the least-protected sectors internationally. C) the policies of high-income nations in these sectors may have harmful effects in low-income countries. D) A and C are both correct. E) B and C are both correct.