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1. Two goods, Police and AOG. Assume prices are 1. Budget is 1000. The city receives a categorical grant of 500 for police services. Show a situation where taxes are reduced and police services remain unchanged. This is called_

1. Two goods, Police and AOG. Assume prices are 1. Budget is 1000. The city receives a categorical grant of 500 for police services. Show a situation where taxes are reduced and police services remain unchanged. This is called_

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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1. Two goods, Police and AOG. Assume prices are 1. Budget is 1000. The city receives a categorical grant of 500 for police services. Show a situation where taxes are reduced and police services remain unchanged. This is called_ 2. Two goods, police and fire. Assume prices are 1. Budget is 2000. The city receives a 1:1 matching grant for police services. Show a situation where fire and police spending are increased.
Transcribed Image Text:1. Two goods, Police and AOG. Assume prices are 1. Budget is 1000. The city receives a categorical grant of 500 for police services. Show a situation where taxes are reduced and police services remain unchanged. This is called_ 2. Two goods, police and fire. Assume prices are 1. Budget is 2000. The city receives a 1:1 matching grant for police services. Show a situation where fire and police spending are increased.
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