Question: Reflection This reflection activity is comprised of two sections collectively totaling a minimum of 500 words. Complete your reflection by responding to all prompts. The

Reflection

This reflection activity is comprised of two sections collectively totaling a minimum of 500 words. Complete your reflection by responding to all prompts.

The Role of Economics in Shaping Public Policy

Analyze how economics plays a vital role in shaping public discussion in the following policy areas:

Household taxation
Business taxation
Import taxation (tariffs)

Provide 1 example of each of the discussions you analyzed above and how that example plays out in your life and career.

Factors of Production

Innovation and physical capital are two of the four factors of production. Analyze specific ways that 1 of the following laws increased the productivity of innovation and physical capital:

1862 Pacific Railway Act
1956 Federal Aid Highway Act
1946 Federal Airport Act

Now that you have considered how a law can increase the productivity of innovation and physical capital, address the following:

Describe 3 other examples of economic concentration.
What are the risks and advantages to economic concentration?
How has economic concentration influenced your industry?

Step by Step Solution

★★★★★

3.50 Rating (157 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

The detailed answer for the above question is provided below The Role of Economics in Shaping Public Policy Economics plays a vital role in shaping public discussion in various policy areas Three of t... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...

Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...

Read the case study "Southwest Airlines," found in Part 2 of your textbook. Review the "Guide to Case Analysis" found on pp. CA1 - CA11 of your textbook. (This guide follows the last case in the...

Kevin Steven opened a small tax-preparation service. Steven Tax Services trial balance at the end of its second year of operation is as follows. The following information is also available: a. Office...

Using the contribution margin approach for a special order decision Winchester Company produces and sells a food processor that it prices at a 25 percent markup on total cost. Based on data...

What are three things to keep in mind when looking at an income statement?

The JCM, DCSM, VM and ERI Model might be read as encouraging management-led, top-down, permanent changes to psychosocial features of work to enhance well-being and performance. Even STST, with its...

1. How serious were the alleged accounting misstatements? As part of your answer, consider whether they were material and whether they were fraudulent. 2. Suppose you were defending Mr. Rand. Could...

Problem 4-15 Comprehensive Problem-Weighted-Average Method [LO4-2, L04-3, L04-4, LO4-5] Sunspot Beverages, Ltd., of Fiji uses the weighted average method in its process costing system. It makes...

Your company is competing for business in the toy robot industry Prepare a sales, production, direct materials, and direct labor budget based on the following assumptions Assumptions Q1 Q2 Q4 1....

Please discuss of some of the benefits and drawbacks of "going public" (200)words)

Exercise 1 Jam llc unexpectedly executed a share buy-back. Before the buy-back the number of outstanding shares was 11,123,000, the market price of one share was $2.04 and the return on levered...

1. Suppose the random variable X represents the failure or not of Edward's speaker woofer while listening to reggae on Friday. Assume there is probability 0.8 that Edward blows up his woofer (woofer...

Please use the following topology to complete the following tasks. INTERFACE IP ADDRESS SO/0 7172.16.1.2/26 Loopback 10 10.10.10.3/25 R1 S0/0 (DCE). 172.16.1.1/26 R3 Loopback20 10.20.20.3/28...

The critical path assumes four facts. What are they? What is a useful scheduling tool to keep track of the critical path and increase the probability of on time completion?

Turner Products develops its manufacturing overhead rate from the current annual budget. The manufacturing overhead budget for 2017 is based on budgeted output of 660,000 ?units, requiring 3,300,000...

Jeremy (unmarried) earned $100,400 in salary and $6.400 in interest income during the year. Jeremy's employer withheld $10,000 federal income taxes from Jeremy's paychecks during the year. Jeremy has...

What are bounds and what do companies do with them?

On July 1, 2012, Ted, age 73 and single, sells his personal residence of the last 30 years for $365,000. Ted's basis in his residence is $35,000. The expenses associated with the sale of his home...

Sally hires a maid to work in her home for $250 per month. The maid is 25 years old and not related to Sally. During 2012, the maid worked 10 months for Sally. a. What is the amount of Social...

During 2012, William purchases the following capital assets for use in his catering business: New passenger automobile (September 30)........................$21,500 Baking equipment (June 30)...

Princess Cruises recently offered a 16-day voyage from Beijing to Bangkok during the time period from May to August. The announced price, excluding airfare, for a room with an ocean view or a balcony...

The Anasazi Real Estate Company has 20 listings for homes in Santa Fe, New Mexico. The number of days each house has been on the market without selling is as follows: 26 45 16 77 33 50 19 23 55 107...

An investment advisor has worked with 24 clients for the past five years. Following are the percentage rates of average five-year returns that these 24 clients experienced over this time frame on...