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Some economists have argued for a balanced state-local revenue. How would you defend (or criticize) that model in terms of the criteria in this chapter?
Why do you think Alaska and New Hampshire chose to consider adopting an income tax rather than a sales tax as a way to increase state revenue?
What kinds of taxes would be most important to you if you were considering a location for a corporate headquarters?
How might the motivation for working be expanded to include other reasons? What are some of those other reasons?
Analyze both a specific tax on gasoline and an ad valorem tax on gasoline and determine the new price and quantity and the division of the tax burden.
How does thinking globally rather than thinking nationally alter your cost-benefit analysis of controlling the amount of fish harvested in any given year?
One of the challenges in cost-benefit analysis is getting people. How might these two dimensions of choice complicate the task of cost-benefit analysis?
How would you go about gathering the relevant information about benefits? Whose benefits would you include?
What other factors might you want to take into account? How would your answer be different if the interest rate was 8 percent?
What kinds of country-specific influences might explain the great diversity in government spending as a share of GDP among industrial nations?
How might fiscal illusion help to explain citizens' willingness to let government activity grow faster than the economy as a whole?
If you worked for a Congressional committee that was considering an across-the-board tax cut. What kinds of data might you use to argue against it?
What has happened to federal defense spending-total, inflation-adjusted, and per capita-since the early 1980s?
What would tend to happen to government revenue over the course of a business cycle? How would they track growth of income over the long term?
How is the mix of various kinds of passenger transportation different between countries? Why do you think that is the case?
What are the advantages and drawbacks of presenting the surplus or deficit on the basis of the unified budget rather than the operating budget passed?
What kind of answer would make growth look slowest? What kind would make it look fastest?
In deciding how to spend unexpected additional revenue in a city? Whose job is it to narrow the choices that are presented to voters or city officials?
Review the list of eight tools for responding to market failure and consider whether and how each is or could be used to address this problem.
How else might you try to measure changes in the economic importance of government relative to private activity?
How does the absence of a residual claimant tend to make governments less efficient than private firms?
In what way is this choice an efficiency question? In what way might it be an equity question?
Why do you think the private sector failed to meet this need? Do you see any drawbacks to government intervention in this area?
How is your analysis of who should foot the bill affected by the fact that many of the Irish bank creditors were foreign (many in the EU).
How might this problem be resolved, or resolve itself, going forward? Does the EM decision to accumulate the reserves look like a wise one, after the fact?