1. What are the 6 economic functions of the U.S. government?

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22-03-2021
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1. What are the 6 economic functions of the U.S. government?

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selizabethc selizabethc · Answer 1 · 2021-04-07T18:06:55+02:00

Answer:

Maintaining a legal and social framework, maintaining competition, providing public goods and services, redistributing income, correcting for externalities, and ensuring stability.

Explanation:

Maintaining a legal and social framework- creating laws and regulating trade, FDA, Securities and Exchange Commission, Federal Reserve

Maintaining competition- antitrust laws, regulating natural monopolies

Providing public goods and services- national defense, sewer systems, basic radio and television, national parks, and emergency warning systems

Redistributing income- Social Security, Medicare, and Medicaid

Correcting for externalities- taxing carbon emissions, Federal Emergency Management Agency, Environmental Protection Agency

Ensuring stability- Federal Reserve System