01:220:102 Study Guide - Midterm Guide: Comparative Advantage, Majority Rule, Opportunity Cost

• School: Rutgers University
• Department: Economic
• Course: 01:220:102
• Professor: D.Blair

Document Summary

Real income growth is consistent across deciles republican presidents. Expansionary policies increasing government spending through transfer payments used to help the lower class and a decrease in taxes. Real income growth for the low and middle class lags behind the rich elections because they strategize by having the highest cumulative growth during the election year. Republican have outspent democrats in 13 out of 16 presidential races. The republicans outspend because since they increase real income growth during elections, the affluent people tent to contribute to republican campaigns as a reward. Voters tend to look at the present advantages. Contractionary policies decreasing government spending and increasing taxes. Gilens and page conducted a study to determine how much influence actors have in public policy. They concluded that economic elites and organized groups representing business interest have major influence on public policy. Business oriented interest groups dominate the effects on public policy: do interest groups represent the opinions of average citizens? i.