🏷️ LIMITED TIME OFFER: GET 20% OFF GRADE+ YEARLY SUBSCRIPTION →
Log in
Economics
1
answer
0
watching
92
views

This is related to China's Economy from 2000-2012 What did the government do during this time to either help or hinder the improvement of the economy? Consider what policies were put in place by the government. This is where you will discuss fiscal policy, monetary policy, and supply side policy. What was the intended impact of these government policies? Note: government policies are not always effective, this is asking about the objective or goal of the government policies, not necessarily if these worked or not. What was the actual impact of the government policies? As objectively as possible, were there policies effective or not? Why?

Watch
1
answer
0
watching
92
views

For unlimited access to Homework Help, a Homework+ subscription is required.

Anne Gillian Duero
Anne Gillian DueroLv10
28 Sep 2019

Unlock all answers

Get 1 free homework help answer.
Already have an account? Log in
Share

Related textbook solutions

Principles of Economics
2nd Edition, 2017
Openstax
ISBN: 9781947172364
Principles of Macroeconomics
2 Edition,
Openstax
ISBN: 9781947172388
Principles of Microeconomics
2 Edition,
Openstax
ISBN: 9781947172340

Related questions

How do government policies and/or regulations factor into changes in economic activity on both a domestic and global scale?

Give a specific example of a policy or regulation that has helped economic activity.

Give a specific example of a policy or regulation that has hindered economic activity.

If you were an economist who was tasked with evaluating this policy or regulation, what are some ideas you would suggest for changing it in a way that would achieve the same goal but not hinder economic activity?

Finally, state whether or not you enjoy these types of evaluations and if you would consider these types of responsibilities in a future career.

How do government policies and/or regulations factor into changes in economic activity on both a domestic and global scale?

Give a specific example of a policy or regulation that has helped economic activity.

Give a specific example of a policy or regulation that has hindered economic activity.

If you were an economist who was tasked with evaluating this policy or regulation, what are some ideas you would suggest for changing it in a way that would achieve the same goal but not hinder economic activity?

Finally, state whether or not you enjoy these types of evaluations and if you would consider these types of responsibilities in a future career.

Question is this -How government intervenes in the economy from three perspectives: Fiscal, Monetary, and Supply Side efforts. You have also now looked at the criticisms of government involvement from the Classical perspective. Which approach makes the most sense to you?

Comment on this answer...

This is Answer-After learning about the classical economic viewpoint and the criticisms of government from it, I don't think there is one single approach that makes the most sense to me between fiscal, monetary, and supply-side policies. I think a minimal mix of the three is okay, and for each, they have their own given situations where they may work best in comparison to the others, or even work in conjunction with one another.

Increasing aggregate demand through fiscal policy may help the economy with unemployment and price levels, or it may hurt the economy instead and leave it in a worse state than it was previously found to be at. This could create artificial demand where there isn't true demand from the consumers. This could trick business and mess them up.

Controlling the supply of money through monetary policy may be helpful to the economy for taming inflation and keeping price stability. Controlling it too much could cause problems such as market unpredictability, which in turn could cause mixed results such as to scare people away or draw them into borrowing less or more money.

Increasing supply through supply-side policies may help the economy with unemployment and price levels. It could hurt people in ways such as people not receiving federal funding, or receive less of it (budget cuts in whatever that may be) due to tax cuts, exemptions, etc., from the government to businesses.

With these three perspectives in mind, I would prefer to see a more classical approach to economic situations. The perspectives of fiscal, monetary, and supply-side policy I think can each be helpful but would be best if they didn't have to be implemented in the first place. They have the potential to cause damage to the economy. After watching the classical economics video and reading the chapter, one thing that stood out to me and I think summarizes government involvement from a classical economists viewpoint is the government's role is like being the umpire in a baseball game. They should make sure everyone plays by the rules and only enters the game as a last resort. That approach makes sense to me.

Weekly leaderboard

Home
Homework Help 3,900,000
Economics 400,000
Start filling in the gaps now
Log in