List five major economic activities of government, and give an example of each
1 . Government as referee. Example: enforcing contracts, or supervising truth-in-lending laws.
2 . Regulating business. Example: anti-trust laws, environmental laws.
3 . Expenditures. Example: government pensions, national defense.
4 . Taxes. Example: income, sales, property taxes.
5 . Government as redistributor. Example: poverty programs, social security.
You might also like to view...
The expected future exchange rate has ________ on the supply of dollars and has ________ on the demand for dollars
A) no effect; no effect B) an effect; no effect C) an effect; an effect D) no effect; an effect E) an effect sometimes; an effect sometimes
If entry-restricting legal barriers effectively organized the funeral home industry of a large city into a monopoly cartel, economic theory indicates that, compared to the previously competitive situation,
a. the price of funeral services would decline, and output would increase. b. both the price and output of funeral services would decline. c. the price of funeral services would increase, and output would decline. d. both the price and output of funeral services would increase.