In Class: Reviewing Final Questions. Handout.
21. What three principles do governments try to
follow when setting up a tax system needed to raise funds needed to run the
government without creating too great a burden for taxpayers?
22. Discuss at least seven kinds of taxes that
Americans pay, and identify the level of government that collects each tax.
23. Explain how the government manages the
revenue that it collects.
24. What are some reasons for the high costs of
government? Explain why the costs of government have been rising, and suggest
some ways that they could be lowered.
25. How do citizens pay for the costs of
government? Do all citizens receive equal benefits for paying these costs?
Explain your answer.
26. Describe free and command economies. Why is
the United States said to be a combination of both of these economic systems?
27. Describe some of the basic economic freedoms
enjoyed by Americans.
28. What is a monopoly? Why are monopolies
unfair? Explain your answer.
29. What roles and responsibilities does the
United States government have in the economy? Do you think the government
over-regulates businesses? Explain your answer.
30. What are the four factors of production, and
what part do they play in a business?
31. Discuss the four stages of the business cycle
and their effects.
32. Discuss the meaning and role of absolute
advantage and comparative advantage, using examples.
33. Describe the three indicators that help
economists predict changes in the business cycle.
34. Discuss the circular flow of goods and
services in a free-enterprise economy.
35. Discuss free trade versus protectionism. Do you
agree with a free trade policy? Why?
Bell work: All laws in the U.S. must align with what document?
Mr. Moore
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