Figure: Median Voter 3

question 67

Essay

Figure: Median Voter 3
Suppose this figure represents defense spending preferences for seven voters and two candidates. Which candidate is more likely to win the election and why? If the losing candidate knows these preferences BEFORE the election, will that candidate be likely to change his or her public stance on defense spending? How?

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Definitions:

Human Capital

The collective skills, knowledge, and other intangible assets of individuals that can be used to create economic value.

Surplus Labor

This term refers to the portion of the labor force which is not currently being employed to its full potential, often leading to unemployment or underemployment in an economy.

Agriculture

The science or practice of farming, including cultivation of the soil for the growing of crops and the rearing of animals to provide food, wool, and other products.

Capital-Using Technological Advance

A capital-using technological advance refers to innovations that increase the amount of capital per worker used in the production process, potentially enhancing productivity but also increasing capital costs.