Principles of Economics, 7th Edition (MindTap Course List)
7th Edition
ISBN: 9781285165875
Author: N. Gregory Mankiw
Publisher: Cengage Learning
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Chapter 22, Problem 5QR
To determine
The preference forMedian voter theorem.
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Explain why majority rule respects the preferencesof the median voter rather than those of the averagevoter.
According to Kenneth Arrow, there are minimum conditions to which a social choice rule (constitution) needs to conform to in order to be ethically acceptable. Explain these conditions. Does majority decisions rule conform to Arrows conditions?
A situation in which society may not be able to rank its preferences consistently through paired-choice majority voting refers to
Multiple Choice:
A. the median-voter model.
B. logrolling.
C. the paradox of voting.
D. the special-interest effect.
Chapter 22 Solutions
Principles of Economics, 7th Edition (MindTap Course List)
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- What is the significance of the concept of rational ignorance? Question options: It explains why voters are swayed by single-issue voting. It explains why the majority of voters feel that their vote is important in determining the outcome of an election. It explains how false or exaggerated political advertising influences voting behavior. It explains why many people do not vote.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_forwardThe above table shows the benefit to each voter if an issue passes. The cost per voter of the issue passing is $100. According to Majority Rules voting, will the issue pass? According to marginal analysis, should the issue pass?arrow_forward
- Explain why according to the theory of rational ignorance, an individual will decide not to participate in the election process (vote).arrow_forwardBN10.3 Case: Your non-profit has just been awarded a special government environmental clean- up grant of $90,000. You are given the choice to take the $90,000 now or wait until next year. With an election coming up, the amount of next year's grant will vary based on which party wins. Assuming that money tomorrow is worth the same as money today, the grant amounts are: Outcome Democrats control everything Republicans control everything Split government Assume: Grant Amount $160,000 $36,100 $90,000 Probability 0.25 0.25 0.50 Assume your Payoff in each case (based on your utility function) is sqrt (grant amount). Question: Do you accept the Money today or wait until next year? Include Calculations of the Expected Value and Expected Utility.arrow_forwardWhich of the following is true? a. Arrow’s Impossibility Theorem states that There is no voting method that will satisfy a reasonable set of fairness criteria when there are three or candidates. b. Gibbard-Satterthwaite's theorem states that there is a voting method is completely resistant to strategic voting. c. None of the given choices d. May's Theorem states that the majority method will always have a winner.arrow_forward
- What voter ID policy would result in the most free and fair electoral process?arrow_forwardmodel suggests that candidates in a two person political race will move toward matching the preferences of the median voter.arrow_forward4.10. A social choice function satisfies the weak Pareto criterion if,whenever every voter places one candidate above another, say rankingcandidate A over candidate B, then candidate B cannot be the uniquewinner. (This differs from the Pareto property owing to the words “theunique”.)(a) Explain why any method that satisfies Pareto also satisfies weakPareto.(b) Explain why the antiplurality method satisfies weak Pareto.(c) Explain why the agenda method violates weak Pareto.arrow_forward
- Economists 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_forwardArrow'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 dictatorsarrow_forwardNation-wide welfare programs are more likely to be introduced in countries with the proportional electoral system than the majoritarian electoral system.True/ False provide supporting logic evidence.arrow_forward
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