100 Lecture Notes - Lecture 1: General Services Administration, Monetarism, Alan Greenspan

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The purpose of this chapter is to introduce you to an area of public policy that affects everyone in one way or another: economic policy. The chapter covers both the divided attitudes that voters have toward a good economy and the competing theories that economists offer on how to obtain a good economy. The various agencies that participate in formulating government economic policy are reviewed, along with the many stages of producing and implementing the annual federal budget. Finally, the controversial areas of government spending and tax reform are discussed. After reading and reviewing the material in this chapter, you should be able to do each of the following: Show how voters have contradictory attitudes regarding their own and others" economic benefits. List and briefly explain the four competing economic theories discussed in the chapter: assess the nature and effect of reaganomics.

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