By Anonymous -
Possible Janus Questions for Quiz on Government’s role in the economy.

 1. Clearly define consumer and producer surplus and then explain the burden of taxation and how it affects these surpluses.

 2. Explain how the draft affects consumer and producer surplus. Who benefits and why? 
                    
       3. What is market failure? What is government failure? What are three ways to deal with market failure? Which is the best? Why?

       4. What impact has Globalization had on the US economy?

       5. Explain the awards card program that Steve Levitt described. What did Sears get right, what did they get wrong?


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