In brief describe the following:
• How does crowding out of private investment happen?
• How dead weight loss is evaluated?
• What are the uses of Lorenz Curve?
• Make a distinction between the term positive and normative economics.
• What are the major characteristics of a merit good?
How do economists go about studying the economics of public sector? Illustrate out the four phases of analysis
The level of government intervention diverges from country to country. In some countries, the level of intervention is kept extremely low. According to you, what are the main reasons for inadequate roles of government?
Mauritius has embarked on a tax reform programme. According to you, how can the tax system become more competent?