unit 3 exam economics, economics homework help

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znevryyn98

Economics

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a questionnaire for my economics class

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1. In an essay of at least two well-developed paragraphs, explain how the theories of Adam Smith and John Maynard Keynes are seen in our present American Free Enterprise System. 2. In an essay of at least three well-developed paragraphs, explain the methods used by the government to protect the economic rights of those living in the American Free Enterprise System. 3. In an essay of at least two well-developed paragraphs, explain U.S. monetary policy functions and the tools the government uses to put these policies into action. 4. Why are taxes collected, and what role does the government play? Your answer should include a discussion of how taxes are used and should be at least two well-developed paragraphs in length. 5. In an essay of at least two well-developed paragraphs, explain how the national debt affects the economy and explain if these are positive or negative in nature. 6. In an essay of at least two well-developed paragraphs, explain how mandatory and discretionary spending are similar and how they are different. 7. In an essay of at least three well-developed paragraphs, explain how U.S. fiscal policies affect the economy and explain the differences between expansionary and contractionary fiscal policies.
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Running Head: UNIT 3 ECONOMICS

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Unit 3 Economics
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UNIT 3 ECONOMICS

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The American Free Enterprise System
Adam Smith and John Maynard Keynes came up with economic methodologies that
influenced how the American Free Enterprise System works presently. Smith pushed on the
ideologies of having the government have limited interference in the economy which has become
a common trend within the American mixed economy therefore enabling the idea of capitalism.
Keynes, on the other hand, saw the American government at the time as the sole provider of
its people as a result of being the “big spender”, where it was expected to cater for the needs of
its citizens through various means (Fernando, 2011). This thought or philosophy helped get the
American people through the Great Depression and out of it. With such a philosophy, the
American government is able to keep the American mixed economy afloat therefore helping out
the economy.
Protection of economic rights of American people
Environmental protection is one of the ways through which people’s economic rights are
protected. The American government conducts protection on its citizens against un...


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