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Such a tax break could lead to a sharp increase in the amount of repatriated earnings and raise tax revenues.

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Question 1: When are quantity restrictions not the same as price restrictions (via taxes)? Describe one situation in which the government would be better off imposing quantity restrictions than setting a tax, and explain why quantity restrictions are better in that case. Question 2: Some have argued in favor of reducing taxes on repatriated earnings that companies operating in the United States have made in other countries. Such a tax break could lead to a sharp increase in the amount of repatriated earnings and raise tax revenues. If such an increase were temporary, what would be the effect on the real budget deficit for the current year? What would be the effect on the structural deficit? Explain. Question 3: Suppose your town wishes to build a dam to protect itself from the risk of flooding. Despite the fact that each family in the town is willing and able to pay up to $200 to have the dam built and it will cost only $150 per family, a voluntary contribution campaign is unable to raise enough funds to build the dam. Why? What type of problem is this, and what solution would you recommend? ONLY CHAPTERS 1,4, AND 5 ARE RELEVANT.

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