1· Inequality can be measured by a. Gini coefficient b. Laffer curve C. GDP d In

Question

1· Inequality can be measured by a. Gini coefficient b. Laffer curve C. GDP d Inflation 2. Public choice and democracy a. Can utilize median voter model b. Is obsolete and will be replaced by dictatorships c. s based on majority that decides d. Can work well without the government and its power 3. Public goods are defined in theory of public finance as a. Non-rival b. Non-excludable C. Rival d. Excludable 4. Health care financing a. Has to solve the problem of health risks classification and adverse selection, e.g. by community rating in heath insurance or health taxation techniques b. Is much more expensive in the USA than anywhere in the world c. Can be financed fully by private health insurance without any regulation d. s not important to manage nationally, everybody can finance his/her care how he/she can 5 6

Explanation / Answer

1. (a)(Gini Coefficient) Gini coefficient is the measure of inequality.

2. (c) Public Choice and Majority is best matching to the option (c), where the majority of the public's choice is considered, and its always the majority who wins.

3. (a and b) Although the answer could be both, Public goods is both non-rival and non-excludable. so it has to be both a and b.

4.(b) It is higher in US than in other countries.

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