Under Representative Democracy

question 126

Multiple Choice

Under representative democracy,

• A)the median voter's preferences are always satisfied
• B)citizens no longer have any influence since they do not vote on each issue
• C)representatives may reflect the preferences of the median voter
• D)less vote trading will occur than under direct voting
• E)vote trading is impossible

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Definitions:

Inflation

The escalation rate of average prices for merchandise and services, causing a fall in the ability to purchase.

Aggregate Demand Curve

illustrates the total amount of goods and services that households, businesses, government, and foreign buyers collectively will desire at each possible price level.

Long Run Aggregate Supply

Represents the total output an economy can produce when using its resources in the most efficient way, without changing the price levels.

Expected Price Level

Expected price level refers to the anticipation of people regarding the general price level of goods and services in the economy in the future.