problem 1:

By using appropriate diagrams, describe the optimal provision of private good and public good.

problem 2:

Using proper diagram, demonstrate how there is efficiency cost of distortion when government imposes a tax on product.

problem 3:

Make a distinction between absolute and relative poverty.

problem 4:

Make a distinction between means test benefits, contingent benefits, and workfare benefits.

problem 5:

Using proper diagram, show the effects of a balanced budget multiplier.