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How would the us government most likely react to a boom in the economy?
Increase government spending in order to stimulate the economy
Why did Adam Smith believed that government should never intervene in a state's economy but instead allow what?
Adam Smith believed that government should never intervene in a state's economy because he advocated for the principle of the "invisible hand," where individuals pursuing their own self-interest ultimately benefit society as a whole. He argued that free markets, driven by competition and consumer choice, lead to more efficient allocation of resources. Government intervention, in his view, would disrupt this natural order and hinder economic growth and innovation. Instead, he supported minimal government involvement, primarily to maintain law and order and protect property rights.
In a planned economy of the following does the job of market forces in order to determine the outcomes?
In a planned economy, the government does the job of market forces in order to determine the outcomes.
How would a government most likely respond to a slowdown in the economy?
Lowering taxes in order to stimulate spending
What are the instruments of fiscal policy?
The government can change its expenditures and its tax collection in order to achieve full employment, control inflation, or encourage growth. By increasing taxes and reining in expenditures, it helps contract the economy. The government can lower taxes and spend more in order to expand the economy.
Pros and cons of mixed economy?
The major merit of a mixed economy is that the public is protected because the government is in charge of public services, and prices are low because of competition in the private sector. A major demerit is that taxes may prohibitively high in order to support government programs.
How would the us government most likely react to a boom in the economy?
Increase government spending in order to stimulate the economy
Why did Adam Smith believed that government should never intervene in a state's economy but instead allow what?
Adam Smith believed that government should never intervene in a state's economy because he advocated for the principle of the "invisible hand," where individuals pursuing their own self-interest ultimately benefit society as a whole. He argued that free markets, driven by competition and consumer choice, lead to more efficient allocation of resources. Government intervention, in his view, would disrupt this natural order and hinder economic growth and innovation. Instead, he supported minimal government involvement, primarily to maintain law and order and protect property rights.
In a planned economy of the following does the job of market forces in order to determine the outcomes?
In a planned economy, the government does the job of market forces in order to determine the outcomes.
Is a government instituted to maintain order or insure personal freedom?
Both!
Why was government needed in early cities?
to establish laws and maintain order
What level of government has the responsibility to maintain law and order?
The judicial branch
How does the government serve its purpose of keeping order?
Governments maintain order by establishing laws and regulations.
How did the Chinese government maintain order?
tight control over political expression
The message from Whiskeys rebellion is that this government would use force to ______ order.?
Maintain
What would happen if there was no government and no rules?
The basic purpose of government is to maintain law and order in country. If there is no government, its means that there is no law and order. Government has different types of departments and ministries which look after their specific work.
What are Antitrust Laws?
The general purpose of both state and federal antitrust laws been enacted primarily for the purpose of maintaining a competitive and fair market place. The Competition Act is the Canadian law,has the same function The purpose of this Act is to maintain and encourage competition in Canada in order to promote the efficiency and adaptability of the Canadian economy
