About This Chapter
Government Impact on Economics - Chapter Summary
You'll encounter information in this chapter that pertains to circumstances that may favor government intervention as well as national debt considerations. Study lessons presented in video format about fiscal policies and taxation systems spanning multiple government levels. You will also see a breakdown of the US tax code and tax types that include that the flat tax.
This chapter also addresses the implications of trade barriers and regulation through anti-trust laws. Further information is presented on trends in regulation and deregulation to understand which industries in particular are the most affected. This chapter has learning targets that include being able to complete the following upon completion of lessons:
- Explain how fiscal policy affects employment
- Discuss the effects of operating with a large national debt
- Understand the intentions behind imposing trade barriers
- Outline taxes' effect at the microeconomic level
- Detail the origins of anti-trust law
- Discuss which industries are experiencing declining regulation
Our key terms relating to the government's economic influence are linked to text lessons for added emphasis on these important topics. Our quality instructors teach the fun video lessons covering the main points to increase learning resources and the chapter's overall effectiveness. Once you have had a chance to get acquainted with the lessons' main ideas, you can quickly assess your comprehension by taking a practice quiz.
1. Economic Goals for the US Economy
This lesson will highlight the key economic goals of the United States economy, including examples to help you remember these different values. You'll also consider some of the challenges of balancing these goals.
2. The Role of Government in a Market Economy
In this lesson, you'll examine the role of government in a market economy. You'll learn what kinds of activities may require government interaction, such as those related to consumer and property rights.
3. Government Fiscal Policies: Goals and Influence
In this lesson, you'll learn about the measures used to determine the health of the economy, including the goals of a fiscal policy. You'll also also learn about some basic approaches the government uses to help stimulate a struggling economy.
4. Government Intervention in the Economy: Issues & Factors
In this lesson, you'll consider the question of when it's worthwhile for the government to take action related to the economy. We'll use concrete examples to help you understand these hotly debated issues.
5. Principles and Systems of Taxation
In this lesson, you'll gain a better understanding of how our tax system works. Look into the different levels of taxation from the federal government to state and local governments.
6. Trade Barriers: Impacts on Prices & Demand
All countries desire trade as a way of increasing their wealth, but very often they want it on their own terms. This lesson looks at the trade barriers that many countries establish, as well as the effects of such limitations.
7. Types of Taxes & the US Tax Code: Impact on Microeconomics
I know what you're thinking - it's bad enough I have to pay taxes, now why would I want to sit through a lesson on them. However, understanding more about taxes may help you convince the government that you don't need so many of them...
8. Anti-Trust Legislation in the US: History & Impact on the Economy
For more than 100 years, a constant worry has been trying to figure out how big businesses should be allowed to grow. This lesson takes a look at a specific type of business, trusts, and trust busting.
9. Governmental Regulation & Deregulation of the Economy
Government regulations affect all aspects of the economy. However, some sectors are subject to specific regulations due to their importance. This lesson explores the purposes and methods of economic regulation and deregulation.
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Other chapters within the MTTC Economics (007): Practice & Study Guide course
- Economic Concepts & Terminology
- Impact of Historical Events on the Economy
- Impact of Geography on Economics
- Structure of Local & Federal Governments
- Government & Economic Systems
- Democratic Values & Society
- Basics of Measuring the Economy
- Scarcity, Opportunity Cost & Production Possibilities
- Producers & Production in Microeconomics
- Supply, Demand & Market Equilibrium
- Price Determination & Elasticity
- Economic Market Structures
- Business Types & Decision Making
- Understanding Economic Growth and Productivity
- Inflation & Adjustment in Economics
- Unemployment Basics
- Understanding Inflation & Unemployment
- Overview of Aggregate Demand & Supply
- Understanding Macroeconomic Equilibrium
- Scarce Economic Resource Markets Basics
- Fiscal & Monetary Policies
- Contractionary & Expansionary Gaps
- Money & the Market
- The Central Bank & Monetary Policy
- Types of Economic Advantage
- Foreign Exchange & Trade Balance
- Overview of Inflows, Outflows & Restrictions
- International Economic Development
- Consumer Decisions in Economics
- Consumer Protection Laws & Agencies
- Savings & Investments for Personal Finance
- Effective Teaching Strategies
- Instructional Teaching Strategies
- Assessment Strategies for Teachers
- Types of Student Assessments
- Technology Uses in the Classroom
- MTTC Economics Flashcards