Principles of Economics (MindTap Course List)
8th Edition
ISBN: 9781305585126
Author: N. Gregory Mankiw
Publisher: Cengage Learning
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Question
Chapter 22, Problem 5QR
To determine
The preference forMedian voter theorem.
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Students have asked these similar questions
Explain why majority rule respects the preferencesof the median voter rather than those of the averagevoter.
Explain why according to the theory of rational ignorance, an individual will decide not to participate in the election process (vote).
Arrow's impossibility theorem states that under certain assumptions about preferences, no voting system exists that satisfies all of the following properties:
•
Unanimity
•
Transitivity
•
Independence of irrelevant alternatives
•
No dictators
Chapter 22 Solutions
Principles of Economics (MindTap Course List)
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Similar questions
- Given that rational ignorance discourages some people from becoming informed about elections, is it necessarily a good idea to encourage greater voter turnout? Why or why not?arrow_forwardhow does the election result change if a tax on non-voters doubles the number of voters while preserving the distribution of preferences?arrow_forwardEconomists James Buchanan and Gordon Tullock are well-known for developing Group of answer choices the impossibility theorem. the voting paradox. the public choice model. the concept of government failure.arrow_forward
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