I’m stuck on a Economics question and need an explanation.
Politicians have a strong incentive to follow a strategy that will enhance their chances of getting elected and re-elected. Political competition more or less forces them to focus on how their actions influence their support among voters and political contributors.
Are voters likely to be well informed on issues and the positions of candidates? Why or why not?
Review concepts like shortsightedness and rent seeking. What are the effects of government intervention in markets with some of the price regulations like price floors and price ceilings