The Idea That the Platforms of the Political Parties Will

question 43

Multiple Choice

The idea that the platforms of the political parties will tend to become similar over time is

• A)not a reflection of reality.
• B)true in theory but not true in actuality.
• C)called the principle of minimum differentiation.
• D)called the principle of minimal political confrontation.
• E)the result of intense lobbying pressure.

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Definitions:

Equilibrium Quantity

The quantity of goods or services that is supplied and demanded at the equilibrium price in a market.

Car Market

The industry related to the manufacturing, selling, and buying of automobiles.

Allocative Efficiency

A state of the economy in which production represents consumer preferences; every good or service is distributed to yield the highest aggregate utility.

Willingness To Pay

The maximum amount a consumer is prepared to spend to acquire a good or service.