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IGNOU MEC 006 Solved Assignment 2022-23

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Important Note – IGNOU MEC 006 Solved Assignment 2022-23 You may be aware that you need to submit your assignments before you can appear for the Term End Exams. Please remember to keep a copy of your completed assignment, just in case the one you submitted is lost in transit.

Submission Date :

• 31st March 2033 (if enrolled in the July 2033 Session)
• 30th Sept, 2033 (if enrolled in the January 2033 session).

SECTION – A

1. Explain the Tiebout Model (voting with your feet) in context of the provision of local public goods. What are the problems associated with this model?

Ans. The Tiebout model, also known as Tiebout sorting, Tiebout migration, or Tiebout hypothesis, is a positive political theory model first described by economist Charles Tiebout in his article “A Pure Theory of Local Expenditures” (1956). The essence of the model is that there is in fact a non-political solution to the free rider problem in local governance. Specifically, competition across local jurisdictions places competitive pressures on the provision of local public goods such that these local governments are able to provide the optimal level of public goods.

Tiebout first proposed the model informally as a graduate student in a seminar with Richard Musgrave, who argued that the free rider problem necessarily required a political solution. Later, after obtaining his PhD, Tiebout fully described his hypothesis in a seminal article published in 1956 by the Journal of Political Economy.

Tiebout believes that the ideas of shopping and competition could be brought into the public sphere to allow for a non-political solution to optimal public goods provision. The model holds that if municipalities offered varying baskets of goods (government services) at a variety of prices (tax rates), that people with different personal valuations of these services and prices would move from one local community to another which maximizes their personal utility. Similar to how shopping and competition lead to efficiency in private good markets, this model holds that individual choices on where to live would lead to the equilibrium provision of local public goods in accordance with the tastes of residents, thereby sorting the population into optimum communities. Basically, if an individual doesn’t like the public goods provision of one town, they can move to the next town over. The model has the benefit of solving two major problems with government provision of public goods: preference revelation and preference aggregation.

Tiebout’s paper argues that municipalities have two roads that they can go about in trying to acquire more persons in their community. One route is for the municipalities to act as a cartel, enforcing a singular tax rate among the various communities. In his paper, Tiebout claims this would shrink the right of voice and exit to the individual. The other option is for the municipalities to engage in tax competition. Tiebout claims the end result of both options is the same, as the tax rates of the various municipalities would converge around an average rate. Tax competition for Tiebout was an integral part of the market process between the government and its citizens.

The Tiebout model relies on a set of basic assumptions. The primary assumptions are that consumers are free to choose their communities, can move freely (at no cost) across towns, have perfect information, and there is equal financing of public goods. This essentially means that they can move from community to community at no cost, and that they know everything they need to know about services provided by local governments and the tax rates of all local governments. Further, the model requires that there be enough towns so that individuals can sort themselves into groups with similar preferences for public goods. For these reasons, the Tiebout model has been shown to be most accurate in suburban areas with many different independent communities. Moving between communities in these areas tends to have the lowest costs, and the set of possible choices is very diverse. In areas subject to rural flooding, Tiebout sorting explains why more affluent residents live in communities protected by river levees, while poorer residents tend to live without those expensive and rarely utilized protections. Lastly, the model also assumes that there are not externalities or spillover of public goods across towns.

The exact assumptions Tiebout made in his first statement of the model were:

• Mobile consumers, who are free to choose where they live. There are no costs associated with moving.
• Complete information.
• Many communities to choose from.
• Commuting is not an issue.
• Public goods do not spill over in terms of benefits/costs from one community to the next.
• An optimal city size exists: economies of scale.
• Communities try to achieve “optimal size”.
• Communities are rational and try to keep the public “bad” consumers away.
• Any differences in the fiscal attractiveness of a town will be capitalized into house prices. The price of any house reflects the cost (including local property taxes) and benefits (including local public goods) of living in that house.

2. “The structural interdependence forms the basis for the policy maker’s choice behaviour for policy”. In the light of this statement explain the structural interdependence and policy coordination.

SECTION – B

3. Enlist the canons of taxation. Explain the approaches to tax equity.

Ans. In this sense, his canons of taxation are ‘classical’ in sense, four canons of taxation are: (i) Canon of equality or equity (ii) Canon of certainty (iii) Canon of economy (iv) Canon of convenience.

• Modern economists have added more in the list of canons of taxation, these are: (v) Canon of productivity (vi) Canon of elasticity (vii) Canon of simplicity (viii) Canon of diversity.

Canon of Equality

• Canon of equality states that the burden of taxation must be distributed equally or equitably among the taxpayers. However, this sort of equality robs of justice because not all taxpayers have the same ability to pay taxes.
• Rich people are capable of paying more taxes than poor people. Thus, justice demands that a person having greater ability to pay must pay large taxes
• If everyone is asked to pay taxes according to his ability, then sacrifices of all taxpayers become equal. This is the essence of canon of equality (of sacrifice). To establish equality in sacrifice, taxes are to be imposed in accordance with the principle of ability to pay.
• In view of this, canon of equality and canon of ability are the two sides of the same coin. Canon of Certainty
• The tax which an individual has to pay should be certain and not arbitrary. According to A. Smith, the time of payment, the manner of payment, the quantity to be paid, i.e., tax liability, ought all to be clear and plain to the contributor and to everyone.
• Thus, canon of certainty embraces a lot of things. It must be certain to the taxpayer as well as to the tax-levying authority.
• Not only taxpayers should know when, where and how much taxes are to be paid. In other words, the certainty of liability must be known beforehand. Similarly, there must also be certainty of revenue that the government intends to collect over the given time period.

Canon of Economy

• This canon implies that the cost of collecting a tax should be as minimum as possible. Any tax that involves high administrative cost and unusual delay in assessment and high collection of taxes should be avoided altogether. Canon of Convenience
• Taxes should be levied and collected in such a manner that it provides the greatest convenience
• not only to the taxpayer but also to the government. Thus, it should be painless and trouble-free as far as practicable. “Every tax”, stresses A. Smith: “ought to be levied at time or the manner in which it is most likely to be convenient for the contributor to pay it.”

Canon of Productivity According to a well-known classical economist in the field of public finance, Charles F. Bastable, taxes must be productive or cost-effective. This implies that the revenue yield from any tax must be a sizable one. Further, this canon states that only those taxes should be imposed that do not hamper productive effort of the community.

• A tax is said to be a productive one only when it acts as an incentive to production. Canon of Elasticity Modern economists attach great importance to the canon of elasticity. This canon implies that a tax should be flexible or elastic in yield. It should be levied in such a way that the rate of taxes can be changed according to exigencies of the situation. Whenever the government needs money, it must be able to extract as much income as possible without generating any harmful consequences through raising tax rates. Income tax satisfies this canon.

4. Explain the debt obligation of the central government for internal debt, external debt and other liabilities.
5. What are public goods? Explain their features. How are public goods responsible for market failure?
6. Discuss the impact of direct taxes and indirect taxes on factors of production.

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IGNOU MEC 006 Solved Assignment 2022-23

7. Write short notes on the following:
(i) Buchanan’s Contractual Theory
(ii) Arrow’s Impossibility Theorem
(iii) Role of government in a mixed economy

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IGNOU Instructions for the MEC 006 SOCIAL STRATIFICATION

IGNOU MEC 006 Solved Assignment 2022-23  Before attempting the assignment, please read the following instructions carefully.

1. Read the detailed instructions about the assignment given in the Handbook and Programme Guide.
2. Write your enrolment number, name, full address and date on the top right corner of the first page of your response sheet(s).
3. Write the course title, assignment number and the name of the study centre you are attached to in the centre of the first page of your response sheet(s).
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5. Write the relevant question number with each answer.
6. You should write in your own handwriting.

GUIDELINES FOR IGNOU Assignments 2022-23

MEC 006 Solved Assignment 2022-23 You will find it useful to keep the following points in mind:

1. Planning: Read the questions carefully. IGNOU MEC 006 Solved Assignment 2022-23 Download PDF Go through the units on which they are based. Make some points regarding each question and then rearrange these in a logical order. And please write the answers in your own words. Do not reproduce passages from the units.
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MEC 006 Handwritten Assignment 2022-23

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