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PART ONE The Economic Basis for Government Activity
Efficiency Markets and Governments
Externalities and Government Policy
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allocation alternative annual budget capital gains cash citizens Coase Theorem consumers consumption corporate income cost-benefit analysis debt decline decrease deficit demand curve distribution dollar earnings economic efficient amount efficient output eligible emissions equal example excess burden external cost federal government Figure finance firms funds gasoline government expenditures guards per week health insurance impact incentive income effect income tax increase indifference curves individuals inputs investment isocost isoquant labor logrolling marginal benefit marginal cost marginal social benefit marginal social cost marginal tax rate Medicaid medical services Medicare ment monthly nations paid payments payroll tax percent person political equilibrium pollution poor price-distorting production profits programs purchase pure public quantity received recipients reduce result retirement revenue saving security guard sellers Social Security Social Security pensions spending subsidy substitution effect supply curve tax base taxation taxpayers tion transfer United vote voters wages workers zero