EF4b; EF5; EF6 Fundamental Economic Systems Standards Based Blog Assignment #4 - Due Date: Sept. 4, 2010
Title: Economic Goals; Role of Government; Economic Growth and Productivity
1. How are the economic goals of freedom, securitiy, efficiency, equity, stability, and economic growth achieved in a market economy?
2. Why has the role of government in the economy increased dramatically since the 1880s?
1. How are the economic goals of freedom, securitiy, efficiency, equity, stability, and economic growth achieved in a market economy?
2. Why has the role of government in the economy increased dramatically since the 1880s?
In the 1880's the great depression had took such an tole on the country the government had no choice but to find other ways to bring the economy back to place
3. Write an argument that supports or opposes the statement in the visual below that says "deregulation won't work because people are greedy" ?
3. Write an argument that supports or opposes the statement in the visual below that says "deregulation won't work because people are greedy" ?
4. Explain why the government provides public goods and services? Why are these public goods and services NOT provided by the private sector? (Please include a discussion on non-rivalrous and non-excludable goods) The governemtn provides public goods and services because it is more efficient, goods and services benefit individuals other than the purchaser, and it also promotes economic equity
5. What are the 6 functions of government in a market economy (provide an example of how the government fulfills each of these 6 functions)?
Maintaining Legal and Social Framework- Create laws and provide courts, provide information and services to help economy function better
Providing Public Goods and Services-
Maintaining Competition-Create and enforce antitrust laws; regulate natural monopolies
Redistributing Income- Higher income tax rates for rich than for poor, provide social security, and aid to dependent children, Medicare, Medicaid.
Correcting for Externalities-Taxes to reduce negative externalities, such as environmental pollution; subsidies to encourage positive externalities, such as education
Stabilizing the Economy-Use government budgets and/or the money supply to promote economic growth, control inflation, and reduce unemployment
6. Describe the relationship that inputs and outputs have on productivity?
7. How do investments in capital goods, technology, human capital and training and educating workers, improve productivity and economic growth? It makes WORK MUCH EASIER!!! think about it if everyone was doing things the same way exactly how it was first begun
7. How do investments in capital goods, technology, human capital and training and educating workers, improve productivity and economic growth? It makes WORK MUCH EASIER!!! think about it if everyone was doing things the same way exactly how it was first begun
8. Refer to the chart below and explain the cause of the decrease in the output, productivity and employment in manufacturing in the United States. What can the United States do to reverse this downward trend in manufacturing?
Reflection: What are two questions that you still have about these particular standards?
Please refer to your course notes, textbook or the supporting links below to complete this assignment:
Social and Economic Goals:
http://www.amosweb.com/cgi-bin/awb_nav.pl?s=wpd&c=dsp&k=economic+goals
Economic Functions of Government:
http://www.slideshare.net/rlsmithtim/economic-function-of-government
http://ecedweb.unomaha.edu/lessons/fecga.htm (Lesson from Class - Click on Visual 1 under materials)
http://www.theusaonline.com/economy/government.htm
Economic Growth:
http://www.socialstudieshelp.com/Eco_Growth.htm
