Graphically and verbally explain tax incidence in the labor market.
How does Gwartney define government? What are the other definitions of government discussed in class? Explain the allocative efficiency rationale for government.
How does competitive behavior result in public and private markets?
What is the one-to-one payment-consumption link? Give examples. Explain how weakening it can result in misallocation/waste of goods.
Here is the data from the Northeast-Midwest Institute discussed in class. Look at the third column. According to this, there are now 32 net tax-consuming states. (Alabama ranks sixth.)
Compare the factors that explain resource allocation in the private and public sectors.
How does Gwartney define government? What are the other definitions of government discussed in class? Explain the allocative efficiency rationale for government.
How does competitive behavior result in public and private markets?
What is the one-to-one payment-consumption link? Give examples. Explain how weakening it can result in misallocation/waste of goods.
Here is the data from the Northeast-Midwest Institute discussed in class. Look at the third column. According to this, there are now 32 net tax-consuming states. (Alabama ranks sixth.)
Compare the factors that explain resource allocation in the private and public sectors.
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