Discuss the three broad functions of the government.

Q: What is progressive tax? Write its merits and demerits.

A: A tax is described as one that the government imposes on citizens who participate in the economy in…

Q: pay Based on your yearly income above, calculate the amount of tax each income bracket would under a…

A: A progressive tax refers to the tax rate which increases (or progresses) with the increase in…

Q: Why might governmentpolicies aimed at achieving the goal you think is the  more important lead to a…

A: Every decision taken has a tradeoff. Similarly when economic decisions are made it also has some…

Q: What type of government often assumes functions of City government

A: The transition of power from a central government to a sub-national body refers to decentralization.

Q: Which of the following services are provided by the federal government? Group of answer choices a…

A: Federal government provides various services to the people in return of their income tax and to…

Q: Describe the difference between efficiency and effectiveness in government and give an example using…

A: Effectiveness vs Efficiency:- Effectiveness:- Effectiveness deals with the maximizing the desired…

Q: Think of two ways the government affects life, one you perceive as positive and one you perceive as…

A: Regulators, taxation, and subsidies are all used by the government to address market…

Q: include whether it will have a positive, or negative, impact on the stat

A: The marijuana is a drug which is banned for consumption by the common people in the country. The…

Q: Why is the permit needed for all the agencies?

A: The permits are a different form of license issued by the government to every business in the…

Q: Even after being implemented, a policy measure takes time to achieve its desired results, what is…

A: Effectiveness lag is the amount of time it takes for a fiscal or monetary policy's effects to…

Q: If a government agency doesn’t collect enough money in taxes to pay for the programs it created.…

A: In an economy, government makes expenditure on social activities like developing infrastructure,…

Q: Do you agree with the goals and ideas of the proposed FTAA?Why or why not?

A: The planned Free Trade Area of the Americas includes 34 countries from Central, North, and South…

Q: Identify and explain some externalities that might be associated with homelessness.

A: Externalities: Unintended and indirect effects of an economic activity that affect third parties not…

Q: What are the two reasons why the government sometimes failed in their programs

A: The Government fails in many times in their programs due to the following reasons Imperfect…

Q: Why is tax necessary for the government? Substantiate your answer in 2 paragraphs

A: A country is controlled by it's government

Q: compliance

A: Taxes are the primary source of revenue for governments around the world. They are used to fund a…

Q: No government can sustain or effectively operate without it's powers. Enumerate and discuss each of…

A: Inherent powers are powers of a division of government not particularly listed in the constitution.…

Q: Government collects the largest percentage of its revenue in which of the following ways?

A: Taxes refer to the monetary payment made to the government of a nation on the purchase or sale of…

Q: Why do producers have more interest in government regulations than consumers do?

A: Government regulations are those laws and rules which are used for placing limitations on businesses…

Q: Refusing to pay taxes because you disapprove of how the money is being used by the government is an…

A: Taxes are described as a legal payment made by citizens of a country to the government that is…

Q: explain when and how the government intervenes in the economy

A: In a free market economy, the resources of production are usually owned by the private individuals…

Q: Define Encouraging or discouraging consumption

A: Encouraging consumption can be defined as boosting the consumption or demand of the consumers by…

Q: do taxes generate the revenue?

A: Revenue: It refers to the extra benefits that a business can earn. These extra benefits will help…

Q: An accountant wants to find the average amount of taxes owed under the new tax laws.  She plans to…

A: If the researcher just observed and measured the study characteristics without doing any…

Q: Government departments can be producers and consumers. Explain the statement

A: In the study of economics, the producer is defined as the individual who is manufacturing and…

Q: Are there ways the government can or does attempt to improve the quality of information on certain…

A: market inefficiency due to imperfect information exists in general across globe, these inefficiency…

Q: Outline the budgetary process and explain the role that politics plays.

A: The budget is defined as the estimation of expenses and revenue over a specified future period of…

Q: explain how government impacts on business

A: In a mixed economy or centrally Planned economies the role of the government is important in…

Q: 8. The golden rule capital stock is the steady-state capital stock where A. f'(k)= d B. sf'(k)= dk…

A: The MPK =δ  level, where the marginal product of capital matches the depreciation rate, is known as…