How does the federal government regulate the economy for the benefit of the public? Discuss specific policies and programs, including their effects.

Q: What is one way in which an individual citizen can influence the government?

A: Individual citizens can able to influence government through various ways.

Q: How does a government agency raise revenue differently from a private company, and how does that…

A: The private sector is the portion of the society which is driven by gain through people and…

Q: The tax on cigarettes in New York City is one of the highest in the nation—$5.85 per pack. What are…

A: Tax is a mandatory unilateral or one way payment made by the public towards the government in the…

Q: 18. In which type of political culture do people expect government to intervene in social and…

A: People expect government to intervene in social and economic affairs, promoting the public welfare…

Q: Suppose the proposed 3% tax on social media advertisements becomes law. Classify each group…

A: A tax on social media advertisements is a government-imposed levy or fee on the purchase or…

Q: Suppose when he took office in January 2009, President Obama wanted to reduce the level of spending…

A: Among the options provided, the most appropriate choice for President Obama to reduce the level of…

Q: 17. To which of the following government programs would a single, cross-country truck driver with no…

A: We will answer the first question since the exact one was not specified. Please submit a new…

Q: 1. Compare the minimum the effects on alcohol consumption of imposing unit price of alcohol with…

A: The expression "duty" alludes to a type of tax collection required on specific products,…

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: Excise taxes are popular sources of revenue for governments because O they require very little…

A: Excise tax is the tax levied on the production of a good. The burden of excise tax falls on both…

Q: This is a form of governmental public policy that has been implemented to reduce the purchase of…

A: A sin tax is a type of excise tax. It is specifically levied on certain goods that are harmful to…

Q: what are 3 goods and services that should be provided by government? What are some of the key…

A: Public goods are goods or services that are provided by the government for the benefit of all…

Q: Which of the following is an example of an exemption?

A: Exemptions are mentioned in the law and these exemption reduces the taxable income. Government…

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: If the governments efforts to reduce demand are effective, what happens to price and usage of…

A: If the demand is reduced by imposing heavy taxes and excise duty, then it would lead to the high…

Q: Suppose a commodity tax is legally placed on paper manufacturers. How the tax is split between the…

A: The burden of tax is shared by both consumers and producers irrespective on whom the tax is imposed.

Q: Critique: “Thank goodness we have so many government regulatory agencies. They keep Big Business in…

A: A regulatory agency is a government agency or public authority who is responsible for exercising…

Q: Which of the following is NOT an example of government intervention in the market? a. Corporate…

A: When markets allocate resources inefficiently, governments intervene in the market. Resources are…

Q: Suppose the government wants to maximize tax revenue. Some policymakers suggest taxing cigarettes,…

A: Tax revenue is the product of the tax amount and the quantity of the good consumed. The tax creates…

Q: Marjorie Randon Hershey argues in the textbook that “Democracy cannot function without parties.”

A: Democracy is a form of ruling a nation or political system where all the citizens have equal right…

Q: Describe how government’s power to coerce can be economically beneficial and list some of the…

A: The belief that regulation is bad for business is unfounded. It is a general rule that should be…

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: Price (P) 5z (after tax) S, (before tax) Тах $35 $30 $25 $20 90 100 Quantity (Q) The diagram above…

A: The equilibrium price was at point where S1 is equal to D  = 25 $. With tax, the supply curve shift…

Q: The largest source of revenue for the federal government is ? A.corporate income taxes. B. the…

A: The largest source of revenue for the federal government is Individual income taxes.

Q: When the government spends tax dollars where does the money come from? What does the government…

A: The taxes paid are used by the government for the better education, investing in technology,…