What are some examples of ways in which the US government exercises central planning and control of the economy?

Answer 1

"Public" utility companies. For instance, the electric company in most areas is actually a private business, but, since it makes economic sense to have only a single set of electrical wires (a "natural" monopoly), the government regulates many aspects of that company's business - from the rates it charges, to the areas it can (or must) provide service to, to the level of service it must provide.

Another great example, which applies across the entire economy, is anti-pollution controls - companies must follow government rules on the disposal and use of many substances, with the idea that the environment itself is a public trust (i.e. something that the government protects in the best interests of everyone).

In a similar vein, labor laws (minimum wage, working hour restrictions and requirements, workplace safety, etc.) are another example of government regulation of business.

Answer 2

"Public" utility companies. For instance, the electric company in most areas is actually a private business, but, since it makes economic sense to have only a single set of electrical wires (a "natural" monopoly), the government regulates many aspects of that company's business - from the rates it charges, to the areas it can (or must) provide service to, to the level of service it must provide.

Another great example, which applies across the entire economy, is anti-pollution controls - companies must follow government rules on the disposal and use of many substances, with the idea that the environment itself is a public trust (i.e. something that the government protects in the best interests of everyone).

In a similar vein, labor laws (minimum wage, working hour restrictions and requirements, workplace safety, etc.) are another example of government regulation of business.

Answer 3

answer from study island- The Food and Drug Administration must approve a new drug before it can be sold to the public

Answer 4

the Food and Drug Administration (FDA) determines the safe standards of all food and drug products in the country.

Answer 5

It has imposed minimum wage laws.

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Answer 6

Laws. It creates specific agencies to as agents of enforcement

Answer 7

It has imposed minimum wage laws.