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In his 1959 book, The Theory of Public Finance, Richard Musgrave conceptualized the problem of public finance into three key branches and outlined the role

  1. In his 1959 book, The Theory of Public Finance, Richard Musgrave conceptualized the problem of public finance into three key branches and outlined the role of government in the economy. List the three main roles of government in the economy as outlined by Musgrave, and summarize each in 2-3 lines.

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