Question

In: Economics

Please answer do not use picture and handwriting, please typing word. copy other answer 2.State and...

Please answer do not use picture and handwriting, please typing word. copy other answer

2.State and Local Government face three fundamental fiscal choices . Please list these choices , and using an example in a specified government program , explain how these choices interact with each other , if at all

1 ) The correspondence principle provides an understanding of how the services ( or public goods ) of government may be organized and delivered . Please describe this principle , and using examples , explain how it can be used in understanding which level of government provides a specific public good

Solutions

Expert Solution

2)The State and Local government face three fundamental fiscal choices.
They are :
i) choice of revenue and tax structure (how much tax is to be imposed and in what proporion to raise the revenue)
ii) level of total spending and total amount of revenue required (Revenue required by the government in order to support the spending in various areas)
iii) how to allocate the total spending among the various goods and services demanded by voters. ( the total spending and government expenditure to be allocated among the various goods and services)
For example, the government program of providing free education to the underpriveleged people has made the Education Cess applied on the purchasing done by the consumer and eating food in restaurants.Every citizen has to pay education cess on the food taken in a restaurant.
Thus the revenue is generated which is then utilized by the government in providing free education. At the same time,government has to decide how much expenditure is to be done from the revenue received in the infrastructure development and offering subsidies on the basic necessity items.


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