1)-What is the difference between the Organic View and the Mechanistic View of government? What are the three (3) Foundation questions of Public Finance? Completely describe an "Efficiency Loss. What is the Laffer curve and why is it an inappropriate example of Efficiency Loss? When the government does intervene, why is a subsidy of the private market simultaneously a good and bad idea? What is an example of a Direct Effect in Public Finance? What is an Indirect Effect on Public Finance? What is Asymmetrical Information and how does it affect Public Finance?

2)What is the difference between Absolute and Relative prices? What is the Income Consumption Curve, and how is it used to distinguish between normal and inferior goods? How is Income elasticity different from Price Elasticity? How can you show how a change in the price of one Good with no change in Income leads to the Substitution Effect? Considering individual preferences as well as income and prices, how can Consumer Equilibrium be expressed? What is the Contract Curve? What are the assumptions and conclusion for the First Fundamental Theorem of Welfare Economics for Private Goods? How can the Bridge Example be used to show the flaw in Macroeconomic methodology as it applies to Public Finance? What is the largest single component of National Income and how has it changed from 1929-2021? How does the presence of the Financial Markets affect the GDP for the Life Cycle Hypothesis?

PLZ GIVE BOTH ANSWERS PROPERLY!!