About This Chapter
The Federal Government and the American Economy - Chapter Summary and Learning Objectives
While the U.S. operates under a free market system, the government does play a large role in the economy through its fiscal policies and regulations on trade and finance. Consumer rights, national debt, property rights and taxation are all economic issues in which the government is involved. In these lessons we'll learn about how the federal government influences the economy. By the end of the chapter, you should understand:
- Why the federal government sets economic goals for the country
- How government works to oversee the rights of consumers
- The influence of government fiscal policies on the individual
- What the impact of national debt is
- How government obtains revenue through taxation
|Economic Goals for the US Economy||Examine the government's goals for the U.S. economy.|
|The Role of Government in a Market Economy||Look at ways governments deal with property rights, environmental issues, improving competitiveness in free market and supervising the rights of consumers.|
|Government Fiscal Policies: Goals and Influence||Explore how government actions can influence the economy.|
|Government Intervention in the Economy: Issues & Factors||Learn about national debt, deficits and how government actions can hurt the economy.|
|Principles and Systems of Taxation||Gain an understanding of taxation systems at the local, state and national levels.|
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.
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Other chapters within the Economics: High School course
- Intro to Microeconomics
- Supply and Demand in Microeconomics
- Business Organizations & Decision Making
- Scarcity, Choice, and the Production Possibilities Curve
- Demand, Supply and Market Equilibrium
- Macroeconomic Equilibrium
- Aggregate Demand and Supply
- Microeconomics & Consumer Behavior
- Producers & Production in Microeconomics
- Economic Market Structures
- Comparative Advantage, Specialization and Exchange
- Scarce Economic Resource Markets Basics
- Measuring the Economy
- Inflation Measurement and Adjustment
- The Government & Microeconomics
- Understanding Unemployment
- Inflation and Unemployment
- Economic Growth and Productivity
- Money, Banking and Financial Markets
- Central Bank and the Money Supply
- Fiscal and Monetary Policies
- Foreign Exchange and the Balance of Payments
- Inflows, Outflows, and Restrictions