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Explain when Ricardian Equivalence fails. You can provide examples discussed in the class.
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- Using examples and clearly labelled graphs where applicable answer the following question: Explain the concept of Ricardian Equivalence. Do you believe it holds in practice? Why or why not? Explain.Describe three ways a government policy maker can try to raise the growth in living standards in a society. Are there drawbacks to these policies?Explain why the government might prefer to provide incentives to private firms to do investment or research and development, rather than simply doing the spending itself?
- If Ricardian equivalence is true, and the government raises taxes(holding spending constant), how does the average person’s behaviorchange? In other words, how does he or she react to a tax increase?In the classical budgeting era from WWII to the early 70s, most citizens agreed on public policy and where to spend tax dollars? True or FalseDescribe three ways a government policymaker can try to raise the growth in living standards in a society. Are there any drawbacks to these policies? Which one if any do you think is most plausible?
- Explain the concept of Ricardian Equivalence. Do you believe it holds in practice? Why or why not? Explain.How can FISCAL POLICIES help for a low-carbon economy? Provide an in-depth discussion and a few citations.Using your own example explain how the macroeconomic objectives of a government might conflict.