Based on Recent Trends, What Can Be Predicted About the Relationship

question 55

Multiple Choice

Based on recent trends, what can be predicted about the relationship between income and voting preference?

• A) Democrats will continue to draw votes from lower-income groups, as they have for many decades.
• B) Republicans will continue to draw votes from lower-income groups, as they have for many decades.
• C) The future is uncertain because Democrats used to draw votes from lower-income groups, but Republicans earned votes from these groups in the 2016 election.
• D) The future is uncertain because income no longer correlates with voting patterns.

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Definitions:

Demand Schedule

A table that lists the quantity of a good that consumers are willing and able to purchase at various prices.

Marginal Revenue

The additional income earned by selling one more unit of a good or service.

Product Differentiation

The act of setting a product or service apart from others in order to increase its appeal to a designated target market.

Monopolistically Competitive

Describes a market structure where many firms sell products that are similar but not identical, allowing for some degree of market power and product differentiation.