АСTVITY 4.2 CLASSIFYING GOVERNMENT ACTIONS Directions: Below is a list of the six economic functions of government, followed by a set of 12 (fic- titious) newspaper headlines. Decide which of the six economic functions is referred to, directly or by implication, in each headline. Classify each headline according to the six functions by writing in the letter of the economic function that best fits that headline. The Six Economic Functions: A. Maintain the Legal and Social Framework B. Maintain Competition C. Provide Public Goods and Services D. Correct for Externalities E. Stabilize the Economy F. Redistribute Income The Headlines: 1. Federal Reserve Raises Key Interest Rate 2. Congress Raises Tax Rates for Top Income Brackets 3. EPA Plan to Reduce C0, Emissions

АСTVITY 4.2 CLASSIFYING GOVERNMENT ACTIONS Directions: Below is a list of the six economic functions of government, followed by a set of 12 (fic- titious) newspaper headlines. Decide which of the six economic functions is referred to, directly or by implication, in each headline. Classify each headline according to the six functions by writing in the letter of the economic function that best fits that headline. The Six Economic Functions: A. Maintain the Legal and Social Framework B. Maintain Competition C. Provide Public Goods and Services D. Correct for Externalities E. Stabilize the Economy F. Redistribute Income The Headlines: 1. Federal Reserve Raises Key Interest Rate 2. Congress Raises Tax Rates for Top Income Brackets 3. EPA Plan to Reduce C0, Emissions

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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