Pleae assist me in short answer format. Thanks. U can provide any of the 5. I will need answers by 1 hour or 1.5 hour max

Instruction: Answer any FIVE (5) of the following short answer questions

Do provide examples where feasible.

1. Briefly discuss any difference between horizontal vs vertical equity in taxation.

2. What is a tax base? Mention three major categories of tax base and cite at least one difficulty with each of those bases.

3. Briefly discuss two important methods of financing deficit budgets and the resulting consequences of each of the two methods you chose.

4. Discuss how tax evasion in Belize could be realistically reduced.

5. What do you understand by issues regarding Equity and Efficiency in evaluating alternative methods of Government finance?

6. How does government finance affect both political and market equilibrium?

7. What do you understand by the concept "Incidence of a tax" and why are issues regarding incidence important to consider?

8. What are tax preferences and cite at least one justification and one economic consequence of a tax preference?

9. Suggest two ways how a budget surplus could be used by the government and briefly discuss the resulting consequences of using the surplus in the ways you have suggested.

10. Why do some economists argue that budget deficits contribute to increased market rates of interest and reduced private investment?