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(a) Match the goods below to the categories of private, club, common, and public types. The relationship is not one-for-one, there can be zero or

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(a) Match the goods below to the categories of private, club, common, and public types. The relationship is not one-for-one, there can be zero or several goods of a given type. Explain when unsure. A seat at a concert General admission floor at a concert A trashcan at a concert A dog park Buried treasure chests around the US (b) The US federal government owes $24 trillion dollars to savers in public debt. Every annual budget earmarks about $300 billion in interest payments on that debt. This is barely above 1% interest rate and only 5% of the public sector expenditure. Explain how this benign-looking situation can become a major problem. (c) Explain what income security does and which level of the government typically manages it. (d) What is the largest source of funding for the federal government? Explain why it cannot be the biggest source of the state funds

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