Question;unit 31. Give two examples of externalities that you encounter in your life. What is the hidden cost associated with the externality? How would your capture that cost?2. Provide an example of a public good. Is a government provided service necessarily a public good?3. If we reform the tax code, should there be a consumption tax rather than an income tax? Why or what not? What are the two sides to a consumption tax?unit 4Give an example of an externality (positive or negative) that you have experienced and a benefit from a public good.
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