The document discusses several ways that the US government influences economic activity and marketplace competition. It describes how the government regulates business through agencies like the FCC, EPA, and FTC. It also discusses how the government provides public goods and services funded by tax revenue, borrowed funds, and fees. Some key ways the government influences the economy are through taxing, borrowing, and spending policies.
The document discusses several ways that the US government influences economic activity and marketplace competition. It describes how the government regulates business through agencies like the FCC, EPA, and FTC. It also discusses how the government provides public goods and services funded by tax revenue, borrowed funds, and fees. Some key ways the government influences the economy are through taxing, borrowing, and spending policies.
The document discusses several ways that the US government influences economic activity and marketplace competition. It describes how the government regulates business through agencies like the FCC, EPA, and FTC. It also discusses how the government provides public goods and services funded by tax revenue, borrowed funds, and fees. Some key ways the government influences the economy are through taxing, borrowing, and spending policies.
The document discusses several ways that the US government influences economic activity and marketplace competition. It describes how the government regulates business through agencies like the FCC, EPA, and FTC. It also discusses how the government provides public goods and services funded by tax revenue, borrowed funds, and fees. Some key ways the government influences the economy are through taxing, borrowing, and spending policies.
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R 36 -- CE.
13a
What are some ways the US government influences marketplace
competition? Enforcing antitrust legislation to discourage the development of monopolies. Engaging in global trade. Supporting business start-ups.
What are some government agencies that help regulate business?
FCC - Federal Communications Commission EPA - Environmental Protection Agency FTC - Federal Trade Commission
These agencies oversee the way individuals and companies do business.
R 37 -- CE. 13b
Characteristics of public goods and services provided by the government:
Provides benefits to many people simultaneously (at the same time) Would not likely be available if individuals had to provide them Included such things as interstate highways, postal service, and national defense
What are the ways the government gets the funds to pay for public goods and services? Through tax revenue Through borrowed funds Through fees (Ex. Park entrance fees) R 38 -- CE 13c What are three ways the US government influences economic activity? * Taxing * Borrowing * Spending
Taxing -- Tax increases reduce the funds available for spending by individuals and businesses. Tax decreases increase the funds available for spending by individuals and businesses. Borrowing -- Increased government borrowing will decrease the funds available for borrowing by individuals and businesses. Decreased government borrowing will increase the funds available for borrowing by individuals and businesses.
Spending -- Increased government spending increases demand -- which may increase employment and production. Decreased government spending reduces demand -- which may result in a slowing of the economy. Increased government spending may result in higher taxes (need more money to pay for things) Decreased government spending reduces demand, which may slow the economy (less spending, less production)
16th amendment -- authorizes Congress to tax personal & business incomes
R 39 – SOL CE. 13d
What is the role of the Federal Reserve System?
The Federal Reserve System acts as the central bank of the US. Has the duty to maintain the value of our currency (dollar.) Regulates banks to ensure the soundness of the banking system and the safety of deposits. Manages the amount of money in the economy to try to keep inflation low and stable. Acts as the federal government’s bank.
SOL -- CE.13f
Why does the government issue currency and coins?
It shows confidence in the government because people accept it as payment in exchange for goods and services.
What are the types of money generally used in the US?
Coins Federal Reserve notes (currency) Deposits in bank accounts that can be accessed by checks and debit cards
SOL -- CE.13e What is the role of the US government in protecting consumer rights and property? Individuals have rights of private ownership, which are protected by negotiated contracts (and enforceable by law.)
Government agencies establish guidelines that protect public health
and safety.
Consumers may take legal action against violations of consumer
rights.
The US government passes laws and creates agencies that protect
consumer rights and property rights. R 40 – CE.14 Career Planning
Starts with self-assessment (knowing your strengths, weaknesses,
interests, etc.)
Employers seek employees who demonstrate the attitudes and
behaviors of a strong work ethic.
Higher skills and / or higher education generally lead to higher
incomes.
Supply and demand influence job income.
Employers seek individuals who have kept the pace with
technological change / skills. Technological advancements in the workplace create new jobs in the workplace.
What influence do advances in technology have on the workplace?
Technology and information flow allows people to work across borders - this creates competition from foreign workers for US jobs and may create opportunities for US workers to work for companies in other countries.
What is being fiscally responsible?
Making careful spending decisions, saving and investing for the future, having insurance, keeping to a budget, using credit wisely, as well as understanding how contracts, warranties, and guarantees can protect the individuals.
