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- Due on May. 03, 2010
- Asked on May 03, 2010 at 1:33:26PM
Q:
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500–750 Word Report |
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The U. S. government has 3 main economic functions in a market economy (Samuelson & Nordhaus, 2010):
- Governments increase efficiency by promoting competition, curbing externalities like pollution, and providing public goods.
- Governments promote equity by using tax and expenditure programs to redistribute income toward particular groups.
- Governments foster macroeconomic stability and growth— reducing unemployment and inflation while encouraging economic growth—through fiscal and monetary policy.
These functions help serve as building blocks for the economy and help companies profit as much as possible. With that in mind, your boss, Mr. Myers, has your next assignment in your week of evaluations.
A mortgage firm has recently hired your company with the intent to help it gauge the future direction of the economy. This is an important step and will guide the firm in making lending decisions. It also has asked that your company provide it with information regarding the Federal Reserve making a change to its monetary policy.
For this assignment, you must submit a report consisting of 500–750 words in which you explain the 3 policy tools the Federal Reserve Board has in making a change to the monetary policy.
For full credit, you must address the following in your report:
- Define/explain the U.S. government's role in efficiency for a market economy.
- Define/explain the U.S. government's role in equity for a market economy.
- Define/explain the U.S. government's role in macroeconomic stability and growth for a market economy.
- Explain the Federal Reserve Board's 3 policy tools.
- What is the impact on the mortgage firm and overall economy if the Federal Reserve Board lowers interest rates?
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An Appropriate Answer For Your Question
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- Posted on May 03, 2010 at 1:55:18PM
A:
Preview: ... stem of public finance is important, but be ignored.
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Cases of comparison on supplying of PG Â
Ortiz, Carlos Humberto, An economic growth model showing government spending with reference to Colombia and learning-by-doing, Colombia Economic Journal, Vol.2, No.1, 2004, pp158-186.
Song, Bingtao, The Institutional Change of Public Finance and Modern Economic Development：An Interpretation of the Puzzle of England from the Efficiency of Public Finance,phD Thesis,2007
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Make the distinction of market economy and public economy
Improve the efficiency of governments’ services (Wade, 1990.)
How to do it?
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Three systems: Â
the system to enforce laws and contracts with sovereignty,
the system of making decisions and supervising the actions of governments by taxpayers,
the system of showing and coordinating the preference of taxpayers on public goods and negotiating between taxpayers and governments
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The hardness of economic development Â
We can not copy a system, they are a consequence of political struggle or cooperate game.
The system change will be influenced heavily by culture, history and old system.
Mass democracy is not a good way, the important point is taxpayer participating in the system. keep small group for cost and equilibrium(Olson,1980)
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2.
The Capital Market in the United States
The capital market in the United States is highly developed, marked by sophisticated technology, specialized financing institutions and functions, wide-ranging geographic locations, and continuous innovation in financial products and services to meet the needs of financial investors and those seeking to acqui ...
The full tutorial is about 1493 words long .
