The Median Voter Is

question 90

Multiple Choice

The median voter is:

• A)any voter in a democratic system
• B)the voter at the start of a distribution
• C)the voter at the end of a distribution
• D)the voter exactly in the middle of a distribution

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Definitions:

Self-correcting Economy

An economy that possesses mechanisms to automatically adjust itself to balance out recessions or inflations without external intervention.

Recessionary Gap

The difference between the actual output of an economy and its potential output if all resources were fully employed, indicating underperformance.

Expansionary Gap

A situation in an economy where total spending exceeds the production capacity, leading to inflationary pressures and a rise in output.

Effectiveness Lag

The time needed for changes in monetary or fiscal policy to affect the economy