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Principles of Microeconomics 3e

Key Terms

Principles of Microeconomics 3eKey Terms

Key Terms

logrolling
the situation in which groups of legislators all agree to vote for a package of otherwise unrelated laws that they individually favor
median voter theory
theory that politicians will try to match policies to what pleases the median voter preferences
pork-barrel spending
spending that benefits mainly a single political district
rational ignorance
the theory that rational people will not vote if the costs of becoming informed and voting are too high or because they know their vote will not be decisive in the election
special interest groups
groups that are small in number relative to the nation, but well organized and thus exert a disproportionate effect on political outcomes
voting cycle
the situation in which a majority prefers A over B, B over C, and C over A
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