public finance

Instructions

Government economic functions are promotion of: Efficiency; Equity and Stability; Please explain shortly the government’s role in each of the three fields.
One of reasons of the necessity of the government involvement in economy is market inefficiency; please explain the sources of market inefficiency.
There are at least two sources of market inability of efficient allocation of resources: imperfect competition and externalities; please explain using a few sentences.
What is a basic difference between perfect and imperfect competition from point of view of government role in the economy? Please explain using a few sentences.
What is a basic difference between external economies and external diseconomies? Please explain using one sentence only.
Please provide the example of the negative externality you are confronted every day in your life?
Please provide the example of the positive externality you are confronted every day in your life?
One of failures of market is its unwillingness to produce ”public goods”. Why? Please explain using as few as possible sentences.
Government /state and local/ must enter as a global spender ordering „public goods” and paying for them or manufacturing them and covering costs. Why government must? Explain using one sentence only.
Why Governments has to engage in promoting economic stability? What are reasons for that engagement?
What macro policies governments use to smooth the business cycle?
What we mean by the term “market failure”?
The government addresses failures in the private market through the price mechanism. How?
Please explain tax burden similarities in the EU and the US.
What three parts of “the tax” we include to find tax burden?
Government spending as a % of the GDP in Sweden is above 50% and in Bulgaria is below 40%. What are important consequences of that difference?
Budget nominal balance is a difference between:
Primary balance is a difference between:
Structural balance is a nominal balance adjusted to….? Use two words to answer.
How revenues of the public sector balance are adjusted in good times to find structural balance?
How revenues of the public sector balance are adjusted in good times to find structural balance?
How expenditures of the public sector balance are adjusted in good times to find structural balance?
How expenditures of the public sector balance are adjusted in good times to find structural balance?
In good times what tax policy is ant cyclical?
In bad times what tax policy is ant cyclical?
In bad times what tax policy is pro cyclical?
In good times what tax policy is pro cyclical?
In bad times what public expenditure policy is pro cyclical?
In good times what public expenditure policy is pro cyclical?
In bad times what public expenditure policy is anty cyclical?
In good times what public expenditure policy is anty cyclical?
What is a permanent difference of tax revenues in the US and the EU countries?
Indifference curves have always negative slope . Why?
Example: we have two goods :a and b and utility function : U=v(Qa*Qb). What is a value of the utility function when quantities of a=5 and quantities of b=20?
When we say that: marginal utility is diminishing? Answer using one sentence.
What is a marginal rate of substitution? Answer using one sentence.
Why MRS is diminishing? Use one sentence to answer.
Please make a budget constraint curve when budget constraint is 1000$ and there are two commodity A= price 10$ and commodity B price =5$?
Marginal Rate of substitution of commodities A and B is a relation of A and B:use one word to answer.
Increase of the price creates substitution and income effect. We have a price of good A=10 and price of B =20 ; price of B increases to 30 what is a substitution and income effect in this example?
Why supply curve has a positive slope in the short run? Answer using one sentence,
Demand curve has a negative slope in the short run, why? Answer using one sentence.
What happens to consumer surplus when price elasticity of demand is increasing?
What happens to consumer surplus when price elasticity of demand is decreasing?
The more inelastic supply the bigger surplus, is this true?
What is a social surplus?
Please explain using one sentence what is : a deadweight loss?
What we mean in the EU by the excessive deficit?
What we mean by primary balance of the public sector?
What we mean by structural balance of the public sector?
When nominal balance is better than structural balance of the public sector?
When nominal balance is worse than structural balance of the public sector?
What does it mean that primary deficit is equal zero?
What does it mean that primary deficit positive?
What does it mean that primary deficit is equal debt service?
What is a difference between payment appropriation and
commitment appropriation in the EU budget? Use no more than two sentences.

What is a difference between mandatory funds in every budget and discretionary funds?
The EU budget is balanced ex ante and ex post: how it is balanced ex post?
When negative externality happens? Can you provide an example of negative externality you experience in you every days life?
There is a term “Pigouvian taxation”. What we mean by that?
When a subsidy is a remedy for a positive production externality?
What are pure public goods?
When we have an under consumption of public goods?
When we have an undersupply of public goods?
Please give an example of the free rider problem in your country.
When over consumption of the good publicly provisioned happens?
Methods of reglamentation of private goods from public sources; please provide at least three examples.

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