MACROECONOMICS (LL)
21st Edition
ISBN: 9781260186949
Author: McConnell
Publisher: MCG
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Chapter 5.A, Problem 1ARQ
To determine
Paradox of voting.
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Explain the paradox of voting through reference to the accompanying table, which shows the ranking of three public goods by voters Jay, Dave, and Conan:
how does the election result change if a tax on non-voters doubles the number of voters while preserving the distribution of preferences?
The average cost of landscaping services for members of a condominium community is $350 per week. Assume that the quantity of landscaping services is perfectly correlated with the number of gardeners per week. Suppose the community consists of seven residents, each with the identical marginal benefit curve for landscaping services. The marginal benefit of the first gardener is $100 per resident.
a) Assume that the efficient number of gardeners is three per week. What is the political equilibrium under majority rule if each voter is assigned a tax share of $50 per gardener per week? Does the political equilibrium under majority rule differ from the Lindahl equilibrium?
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- Explain why according to the theory of rational ignorance, an individual will decide not to participate in the election process (vote).arrow_forwardExplain how affirmative and negative majority votes can sometimes lead to inefficient allocations of resources to public goods. Is this problem likely to be greater under a benefits-received or under an ability-to-pay tax system? Use the information in Figures 17.1a and 17.1b to show how society might be better off if Adams were allowed to buy votes.arrow_forwardPlease no written by hand "No voting system is perfect." What does it mean by economist K. Arrow? Give a brief account on Condorcet Voting Paradox. A public school district is voting on the school budget and the resulting student-teacher ratio. A poll finds that 20 percent of the voters want a ratio of 9:1, 25 percent want a ratio of 10:1, 15 percent want a ratio of 11:1, and 40 percent want a ratio of 12:1. What outcome would you expect the district toarrow_forward
- Identify the following weighted voting system. one person, one vote veto power system null system dictatorshiparrow_forwardExplain why majority rule respects the preferencesof the median voter rather than those of the averagevoter.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
- How does Arrow's Impossibility Theorem challenge the feasibility of achieving a fair and consistent voting system in economic decision-making?arrow_forward2.9. The following informal descriptions of voting methods do not represent social choice functions as we have defined them. Explain why not.(a) (Mini-quota) Any candidate with at least 25% of the votes is declareda winner.(b) (Approval voting) Every voter answers a yes-or-no question abouteach candidate: “Is she acceptable?” Whichever candidate is acceptable to the most voters is declared the winner.(c) (Copeland without ties) The winners of the Copeland method become our finalists. If there is more than one finalist, the tie is resolvedby drawing straws.(d) (Condorcet candidate) Pick the candidate who defeats each of theother candidates in a head-to-head electionarrow_forwardSuppose there are two residents in a neighborhood, and you know both of their demand curves for a public good. What would you have to do in order to figure out what the social demand curve? A.Multiply the two demand curves together B.Add their demand curves together C.Subtract the demand of the person with the lower valuation of the public good from the demand of the person with the higher valuation of the public good D.Subtract the demand of the person with the higher valuation of the public good from the demand of the person with the lower valuation of the public goodarrow_forward
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