The _____ allows voters to vote on a series of marginally smaller ...

[NClaborn]

The _____ allows voters to vote on a series of marginally smaller quantities of a good.
 
  a. committee version of the medium voter model
  b. representative democracy version of the medium voter model
  c. referendum version of the medium voter model
   d. cyclical majority

Question 2

The supply-and-demand model may not be appropriate in markets with large transaction costs.
 
  What will be an ideal response?

[peilian]

Answer to Question 1

c

Answer to Question 2

True. If the costs of finding a trading partner are high, no trades may occur, or trades may occur at a variety of prices.