Former Alabama Governor George Wallace ran for president several times, once as a third-party candidate in 1968. Wallace claimed there was "not a dime's worth of difference" between the Democratic and Republican parties during one of his campaig
How does Wallace's comment relate to the median voter theorem?
To win his party's nomination for president, a candidate can proclaim his support for the party's position on important domestic and foreign policy issues, but to be elected president, a candidate must receive a majority of the states' electoral votes in a general election. This typically requires candidates from both the Democratic and Republican parties to reach out to voters from both parties as well as independent voters. This is consistent with the median voter theorem and is one reason why many people believed that Wallace's observation was valid. Third-party candidates such as Wallace become popular because their views on important issues differentiate themselves from mainstream politicians but this places them away from the political middle in the general election. As a result, it is very difficult for a third-party candidate to win a general election.
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The provision of the Patient Protection and Affordable Care Act (ACA) which states that, with limited exceptions, every resident of the United States must have health insurance that meets certain basic requirements is the ________ provision
A) regulation of health insurance B) state health insurance marketplaces C) individual mandate D) employer mandate
In the 1980s, it became increasingly common for consumers to sign two-year leases rather than buying the cars outright. As these leases expired, the supply of used cars expanded considerably. How would the addition of this large volume of off-lease cars influence the possibility of a lemons problem on the used-car market?
a. The lemons problem would be alleviated because off-lease cars tend to be put up for sale automatically, rather than being offered only when the seller obtains private information about the car's poor quality. b. The lemons problem would be worsened because used-car prices would fall in response to the glut of off-lease cars. c. The lemons problem would be worsened because, with more used cars, searching for the appropriate car would become much more difficult for buyers. d. Very little; the existence of off-lease cars has little to do with the lemons problem.