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CE 12

CE.12 – GOVERNMENT’S ROLE IN THE ECONOMY

QuestionAnswer
WHY DOES GOVERNMENT PLAY A ROLE IN THE ECONOMY? To promote stability, protect property rights, and provide public goods
WHAT ARE PUBLIC GOODS? Goods and services provided by government that benefit everyone (roads, national defense).
WHY DOES GOVERNMENT ENFORCE CONTRACTS? To ensure fairness and trust in economic transactions.
HOW DOES GOVERNMENT PROMOTE COMPETITION? By preventing monopolies and enforcing antitrust laws.
WHY DOES GOVERNMENT PROTECT PROPERTY RIGHTS? To encourage investment and economic growth
WHAT IS FISCAL POLICY? Government decisions about taxation and spending
WHO CONTROLS FISCAL POLICY? Congress and the President
HOW CAN FISCAL POLICY AFFECT THE ECONOMY? By increasing or decreasing spending and taxes to influence economic activity.
WHAT IS A BUDGET DEFICIT? When government spending exceeds revenue.
WHAT IS A BUDGET SURPLUS? When government revenue exceeds spending
WHAT IS THE NATIONAL DEBT? The total amount of money the federal government owes.
WHAT IS MONETARY POLICY? The regulation of the money supply and interest rates.
WHO CONTROLS MONETARY POLICY? The Federal Reserve System.
WHAT IS THE FEDERAL RESERVE? The central bank of the United States.
HOW DOES THE FEDERAL RESERVE INFLUENCE THE ECONOMY? By adjusting interest rates and controlling money supply.
WHAT HAPPENS WHEN INTEREST RATES RISE? Borrowing decreases; spending may slow
WHAT HAPPENS WHEN INTEREST RATES FALL? Borrowing increases; spending may rise
Created by: Lisa K Ball
 

 



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