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Concepts by providing concrete examples

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TERMS & CONSEPTS-Define the following concepts by providing concrete examples.

1. Entitlement spending & discretionary spending

2. Automatic & discretionary stabilization & austerity

3. Cash accounting & capital accounting

4. Static scoring & dynamic scoring

5. Pure public goods & impure public goods

6. Free-rider problem & crowding-out

7. Contingent valuation & compensating differentials

8. Cost-benefit analysis & cost-effectiveness analysis

9. Lindhal pricing & Arrow's theorem

10. Public choice theory & government failure

11. Fiscal federalism & fiscal equalization

12. Block grants & matching grants

13. Educational vouchers & (higher education) loans

Reference no: EM131808144

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