Political Economy Assume there are three voters: A, B and C. Voter preferences can be ranked along a left-to-right spectrum that ranges from 1-9; 1 being the most left leaning preference and 9 being the most right leaning preference. Suppose these voters will choose between candidates Smith and Jones in an upcoming election. Voter Id Preference(1-9) A 4 B 5 C 6 True/False Explain: If the median voter theorem holds, candidates Smith and Jones will either both adopt preference 5 OR one will adopt preference 4 while the other adopts preference 6. Suppose the electorate becomes more polarized; A moves from 4 to 1 while C moves from 6 to 9. B remains at 5. How does the median voter model predict candidates Smith and Jones will change their preference? Keeping the assumptions from B, how does the election result change if a tax on non-voters doubles the number of voters while preserving the distribution of preferences? If the tax in C induces 100% compliance (everyone votes), did this tax increase total surplus, decrease total surplus or have no effect on total surplus?
Political Economy Assume there are three voters: A, B and C. Voter preferences can be ranked along a left-to-right spectrum that ranges from 1-9; 1 being the most left leaning preference and 9 being the most right leaning preference. Suppose these voters will choose between candidates Smith and Jones in an upcoming election. Voter Id Preference(1-9) A 4 B 5 C 6 True/False Explain: If the median voter theorem holds, candidates Smith and Jones will either both adopt preference 5 OR one will adopt preference 4 while the other adopts preference 6. Suppose the electorate becomes more polarized; A moves from 4 to 1 while C moves from 6 to 9. B remains at 5. How does the median voter model predict candidates Smith and Jones will change their preference? Keeping the assumptions from B, how does the election result change if a tax on non-voters doubles the number of voters while preserving the distribution of preferences? If the tax in C induces 100% compliance (everyone votes), did this tax increase total surplus, decrease total surplus or have no effect on total surplus?
Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter22: Frontiers Of Microeconomics
Section: Chapter Questions
Problem 7PA
Related questions
Question
- Political Economy Assume there are three voters: A, B and C. Voter preferences can be ranked along a left-to-right spectrum that ranges from 1-9; 1 being the most left leaning preference and 9 being the most right leaning preference. Suppose these voters will choose between candidates Smith and Jones in an upcoming election.
Voter Id |
Preference(1-9) |
A |
4 |
B |
5 |
C |
6 |
True/False Explain: If the median voter theorem holds, candidates Smith and Jones will either both adopt preference 5 OR one will adopt preference 4 while the other adopts preference 6.
- Suppose the electorate becomes more polarized; A moves from 4 to 1 while C moves from 6 to 9. B remains at 5. How does the median voter model predict candidates Smith and Jones will change their preference?
- Keeping the assumptions from B, how does the election result change if a tax on non-voters doubles the number of voters while preserving the distribution of preferences?
- If the tax in C induces 100% compliance (everyone votes), did this tax increase total surplus, decrease total surplus or have no effect on total surplus?
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step 1: Describe the importance of political economy as a subject
VIEWStep 2: Examine the validity of the statement
VIEWStep 3: Explain how S and J will change their preference
VIEWStep 4: Explain how does the election result change
VIEWStep 5: Analyze what will happen to the total surplus
VIEWSolution
VIEWStep by step
Solved in 6 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Microeconomics
Economics
ISBN:
9781305156050
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Principles of Microeconomics (MindTap Course List)
Economics
ISBN:
9781305971493
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Principles of Microeconomics
Economics
ISBN:
9781305156050
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Principles of Microeconomics (MindTap Course List)
Economics
ISBN:
9781305971493
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Economics (MindTap Course List)
Economics
ISBN:
9781337617383
Author:
Roger A. Arnold
Publisher:
Cengage Learning