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 within 300-400 words.
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 in 300-400 words:
- Describe 3 other examples of economic concentration.
- What are the risks and advantages to economic concentration?
- How has economic concentration influenced your industry?
