Can the median voter model help explain why third parties have generally not been successful in the United States? Explain why or why not
What will be an ideal response?
Yes, the median voter can help explain why third parties have generally not been successful in the United States. Under a majority rule system where all possible outcomes can be placed along a one-dimensional continuum, candidates must converge on the median voter if they want to win election to public office. An introduction of a third party, almost by definition, will leave two parties on one side of the median. These two parties will split the votes on that side of the median and ensuring that the party on the other side of the median will win, making three party systems unviable in the long run.
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An efficient tax is
A) a tax that raises a maximum amount of revenue. B) a tax that imposes a small excess burden relative to the tax revenue that it raises. C) a tax that imposes an equal tax burden on buyers and sellers. D) a tax that is used to fund research and development of new technology.
In the game in Scenario 13.10, there is
A) a mixed strategy equilibrium, and no other. B) a mixed strategy and a pure strategy equilibrium. C) a mixed strategy and two pure strategy equilibria. D) a mixed strategy and four pure strategy equilibrium. E) no equilibrium in either mixed or pure strategies.
Which of the following concepts are illustrated by the production possibilities curve?
a. scarcity b. choice c. trade-offs d. all of the above
A manufacturer produces 1 million televisions in the first quarter of the year. It sells 900,000 of them before the end of the first quarter, and holds the others in its warehouse. How will the 100,000 unsold televisions be treated in the GDP statistics?
a. Since the televisions eventually will be bought by consumers, they will be included as consumption in the first quarter. b. Since the televisions were not purchased in the first quarter, they will be counted as an increase in second-quarter GDP. c. The televisions will be counted as a change in inventory in the first quarter and so will be included in first-quarter GDP. d. The televisions will be counted as a change in inventory in the first quarter, and when sold in the second quarter will raise second-quarter GDP.