How do taxes influence people behavior

Reference no: EM133246758

Question - Answer questions below

1. Competition is a necessary component to properly functioning markets. What happens when markets lack competition? Is this a reason for government involvement? For example, should the government have sought to break up the Microsoft Corporation?

2. Cite an example of a negative externality (external costs). When are external costs likely to occur? Is the government or the market better prepared to remedy negative externalities?

3. How do taxes influence people's behavior? In your answer, be sure to discuss such concepts as tax rate, tax base, and tax revenue.

4. How do economists define the nature of public goods. Cite an example of a public good.

5. Why has the size of government grown more rapidly than our economy during the last several decades?

6. Is there sometimes a conflict between good economics and good politics? Cite an example of such an issue.

Reference no: EM133246758

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