Government and the Economy

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Government and the Economy by Mind Map: Government and the Economy

1. What Does Government Do to Promote Economic Well-Being

1.1. Promote Economic Stability

1.1.1. This article shows a number of ways the government steps in to keep the economy stable. Some of these ways include fiscal stabilizers, floating exchange rates, flexible labor markets, and monetary policy.

1.2. Income Distributation

2. What Regulatory Roles Does Government Play in Our Economy?

2.1. Maintaining competition

2.2. Protecting consumers, savers, and investors

2.2.1. This link shows the government protecting the consumer by having a sight where the government will take complaints about a business and look into them. This protects against any fraud or scam throughout businesses.

2.3. Protecting workers

3. How Does the Government Protect Property Rights?

3.1. The Court System

3.2. Police forces

3.3. The Patent and Trademark Office

3.3.1. This link shows how the government has a cite of patents and trademarks of businesses already so that no one can steal the same idea and use it to make money.

4. How Should Government Address Externalities and Public goods?

4.1. Subsidies and Public Provisions

4.1.1. This Link shows the government giving a subsidy by the Affordable care act to people of lower income so it can cover insurance for the people will less money.

4.2. Command-control-pricing policies

4.3. Market-based policies

4.4. Tolls, Quotas, and Privatization

4.5. Analyzing the Costs and Benefits of Providing Public goods.