1.)Explain the following concepts as they are used in public finance:
a)Debt financing
b)Funded debt
c)Public goods
d)Expenditure incidence
e)Crowding out effect
2)Differentiate between the following paired concepts:
a)Tax bouyancy and tax elasticity
b)Unit tax and Advalorem tax
c)Tax base and taxable capacity
d)Statutory tax incidence and economic tax incidence
e)Fiscal policy and monetary policy
3)Explain Karl Marx”s assertion that “from each according to his ability and to each according to his needs.”
4)Why do most public investments perform so poorly?
5)Briefly comment on the decreasing role of the public sector in economy.
6)What is your view towards debt rescheduling as part of the debt management policies in a developing country

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