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problem 1) Describe the problems created with majority voting and median-voter outcome.

problem 2) prepare down four reasons given by public choice theorists for government’s inefficiency in providing public goods and services.

problem 3) Distinguish between benefits-received and ability-to-pay principles of taxation.

problem 4) prepare down which taxes are progressive, proportional, and regressive.

problem 5) describe how elasticities of demand and supply are related to incidence of a sales or excise tax.

problem 6) Describe the relationship between elasticities of demand and supply and efficiency loss of a particular tax.

problem 7) describe probable incidence of the personal income tax, corporate income tax, sales and excise taxes, and property tax.

problem 8) Describe the U.S. structure relative to progressivity or regressivity of Federal, state, and local taxes.

problem 9) prepare down conservative and liberal positions on the size of government spending and the individual’s freedom.

Macroeconomics, Economics

  • Category:- Macroeconomics
  • Reference No.:- M97946

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