What is the excess burden of a subsidy

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Question 1) How is poverty officially defined in the Philippines? Based on the official definition of poverty, has any progress been made in reducing its incidence in the country?

Question 2) What are the major types of government programs that provide support for the poor in the country?

Question 3) What is a price-distorting subsidy? Why do price-distorting subsidies result in losses?

Question 4) What is the excess burden of a subsidy?

Question 5) Explain why the Philhealth program contributes to an overallocation of resources to health care in the country relative to the efficient amount. Under what circumstances does subsidized medical care contribute to increases in the price of medical services?

Question 6.) Discuss in an essay how the Social Security System (SSS) in the Philippines is financed by payroll taxes.

Reference no: EM133283299

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