1. The authors of the economics text state that a government may help promote economic progress if it provides goods or services that are not otherwise offered by other markets. Give an example of the types of goods that markets are unable to provide.
2. The authors of the economic text argue that the cost of income transfer payments (entitlements) to the economy as a whole will always be greater than the gain received by the beneficiaries. Summarize the argument supporting this statement as presented by the economic authors.
3. In a general summary of the economics book, the authors discuss some basic economic cornerstones that are necessary for economic prosperity. Identify these cornerstones and briefly discuss why they are necessary for economic prosperity.