TERMS CONSEPTS-Define the following concepts by providing concrete examples. Entitlement spending discretionary spending 2. Automatic ...

TERMS & CONSEPTS-Define the following concepts by providing concrete

examples.

1. Entitlement spending & discretionary spending

2. Automatic & discretionary stabilization & austerity

3. Cash accounting & capital accounting

4. Static scoring & dynamic scoring

5. Pure public goods & impure public goods

6. Free-rider problem & crowding-out

7. Contingent valuation & compensating differentials

8. Cost-benefit analysis & cost-effectiveness analysis

9. Lindhal pricing & Arrow's theorem

10.Public choice theory & government failure

11.Fiscal federalism & fiscal equalization

12.Block grants & matching grants

13.Educational vouchers & (higher education) loans