ECO 450 Week 3 DQ 2 The Political Process

ECO 450 Week 3 DQ 2 The Political Process

“The Political Process” Please respond to the following:

•Explain the role that political parties play in political equilibrium. Identify if more parties mean a better equilibrium. Justify your response.

•As presented in the text, logrolling assumes no transaction costs. Describe logrolling in your own words and explain how the existence of transaction costs would prevent logrolling.