Economics Using Nova Scotia province (Canada) as the

Economics Using Nova Scotia province (Canada) as the example of the provincial government. Governments have a list of tools that they can use to deal with one of the seven economic reasons for intervening in the economy. Please list ten different government tools that government can use to intervene in the economy, identify a program/initiative/tax delivered by the Provincial government you are assigned that corresponds to each tool, the economic reason for each of the ten interventions, and which of the two objectives under Welfare Economics, efficiency, or equity, is the reason for each intervention. Tools of government include 1. Taxation 2.Expenditures 3.Loans and loan guarantees 4.User charges 5.Public ownership 6.Performance based regulation 7.Standardsand contracts 8.Persuasion 9.Legal 10.Insurance 11.Regulations There are seven economic rationales for government intervention based on the two objectives under Welfare Economics• The failure of competition –market power•Incomplete markets –non existence of markets•Externalities•Public goods Each listing comprising the name

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