A) Consider the four sets of members of a system: P, S, W, and L. Which set(s) o

Question

A) Consider the four sets of members of a system: P, S, W, and L. Which set(s) of members determine(s) whether L stays in ofce?

B)Which set(s) of members benet(s) from public goods provided by L?Which set(s) of members benet(s) from private goods provided by L?

C)Assume L has access to the following scal resources: tax income determined by the tax rate (0 t 1) and economic productivity (y), natural resource rents (n), and foreign aid (f). How much does L have to spend (R)? R =

D) L spends scal resources on public and private goods, for which she must determine a budget. Assume L cannot spend more than the scal resources available. The bud-get includes the following: quantity of public goods (g), price per unit of public goods (p), quantity of private goods (W), and price per unit of private goods (z). What is L’s budget constraint? R

E)Take the inequality above and determine the price of private goods L can afford to stay in ofce.

Explanation / Answer

The set P determines L stay sin office.

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