The median voter theorem states that the outcome of a majority vote
A) tends to favor the preferences of high-income individuals and ignore the median voter.
B) is determined by the average consumer and producer in an economy.
C) is likely to represent the preferences of the voter who is in the political middle.
D) is likely to represent the preferences of society's middle-income voter.
C
You might also like to view...
Which of the following statements is true of competitive market equilibrium?
A) The determination of equilibrium price and quantity is independent of the demand for goods. B) Social surplus is minimized at the competitive equilibrium. C) At the competitive equilibrium, there are no unexploited gains from trade. D) A competitive equilibrium is determined only by a few large sellers in the market.
Behaving strategically:
A. means recognizing that the actions of others will affect the trade-offs you face, and acting accordingly. B. is an essential part of game theory. C. involves rational decision making. D. All of these statements are true.