lectureAssignment16 - ECONOMICS 100 Lecture Assignment #16...

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ECONOMICS 100 Lecture Assignment #16 (The Role and Impact of Government) Source: LR 11 and LR10, Chapters 12, 16, 17, 18 (There are many interesting ideas in these chapters to challenge your economic reasoning skills, and to provide you with insights into government policies. However, in the everyday world of students, the short-term incentive system relates to marks - you can be guided in that regard by what I cover in class!) Rationale For Intervention We have studied how a market economy allocates resources to meet consumer demands. Why would governments, acting on behalf of society, want to intervene to "override" the results of market forces? Instruments of Intervention From a microeconomics perspective, governments affect the economy through regulations, expenditures, and taxation. A. REGULATION The extent of regulation by government has grown enormously over the last 50 years. Each level of government has a particular jurisdiction over which it can promulgate regulations. Regulations obviously have social as well as economic intents and impacts. Our emphasis is on the economics.
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lectureAssignment16 - ECONOMICS 100 Lecture Assignment #16...

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