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Ch 7: Government Impact on Economics

About This Chapter

Review the contents of this chapter to learn about the ways in which the government influences the economy. Video lessons highlight various aspects of the government's position within a market economy.

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.

9 Lessons in Chapter 7: Government Impact on Economics
Test your knowledge with a 30-question chapter practice test
Economic Goals for the US Economy

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.

The Role of Government in a Market Economy

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.

Government Fiscal Policies: Goals and Influence

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.

Government Intervention in the Economy: Issues & Factors

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.

Principles and Systems of Taxation

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.

Trade Barriers: Impacts on Prices & Demand

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.

Types of Taxes & the US Tax Code: Impact on Microeconomics

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...

Anti-Trust Legislation in the US: History & Impact on the Economy

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.

Governmental Regulation & Deregulation of the Economy

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.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
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Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
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