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 Public choice and democracy a. Can utilize median voter model b. Is obsolete and will be replaced by dictatorships c. s based on majority that decides d. Can work well without the government and its power 3.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) Inequality could be measured by Gini Coefficient.

2. (c) Public choice and democracy elect who majority supports. It is based on majority that decides.

3. (a and b) Public goods are defined as both non-rival and non-excludable. Non rival because use by one doesnt reduce availability by other, And non-excludable means use by one doesnt exclude others to use it.

4. (b) Health Care financing is much more expensive in USA than other countries.

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