1. What does government do to promote economic well-being?
1.1. Created a widely accepted currency
1.2. Helps the poor with earned income tax credit
1.3. Workers laid off from jobs receive payment for a period of time until they find a new job
1.4. This article states the government tries to focus on stability instead of spending. When something has an effect in the economy and brings the whole economy down, the government steps in with money to try to bring the economy back up.
2. How should government address externalities and public goods?
2.1. Promotes activities with positive externalities
2.2. Set a cap on total amount of pollutant a company can make a year
2.3. The government set a quota on the amount of resources that can be taken each year
2.4. The article describes how they try to exclude non-payers for different public goods. They might search for non-payers to kick them off tv broadcasting channels, or not help them as much in stores if they're just messing around.
3. How does the government protect property rights?
3.1. The government gives owners the right to determine what they're property is used for
3.2. The government protects property with commercial value with copyright and patents
3.3. The government made an amendment saying private property shall not be taken for commercial use
3.4. Article on property rights states the government guarantees private property. It also talks about how the government also enforces protection on those properties.
4. What regulatory roles does government play in our economy?
4.1. The government plays the role of the Justice Department
4.2. They prohibit the practice of limiting competition
4.3. Created a Pure Food Act and Meat Inspection Act to make sure all food sold is safe
4.4. The article on government regulatory roles states why the government sets so many regulations so customers don't get scammed. They also make different copyright laws for protecting someones idea.
