Identify Specific Ways In Which Government Is Involved In Your Life
The Budget Assignment
1. Identify specific ways in which government is involved in your life and your family’s life in an economic way.
While people like me make decisions that mold the economy, the government acts as a guide to keep that economy progressing into success. The government attempts to maintain growth, employment, and price stability. The government can also manipulate the economy to slow down or speed up by adjusting spending and tax rates. This results in a fluctuation in the employment rates.
The government enforces taxes on goods and services, in order to create benefits for the economy. This affects our daily life because we have to pay these taxes at the moment of purchase, which provides the government with more money …show more content…
(2)
- Supporting advanced research and innovation to introduce new ideas, which are made into products and services in the marketplace. (2)
- Reducing red tape and the regulatory burden faced by businesses. (2)
- Creating natural resources in a responsible and secure way. (1)
- Helping businesses succeed in the global economy by encouraging trade and foreign investment. (1)
- Investing in public infrastructure. (1)(2)
- Supporting families and communities by keeping taxes low for families and improving the safety of Canadians. (1)
4. Analyze the budget using a chart like the one below. In the first column, note the change giving specifics. In the second column, note what the government hopes to achieve with this change. In the third column, analyze which economic goal(s) this measure will help to achieve. Include at least 10 different changes.
By means of this specific change:
Government hopes to:
To help achieve the following goals:
Elimination of the deficit, reducing debt and controlling expenditures
Balance the budget and to keep the economy stable
Continuing to control direct program spending and improving the integrity of the tax system.
Promoting job
1. Identify specific ways in which government is involved in your life and your family’s life in an economic way.
While people like me make decisions that mold the economy, the government acts as a guide to keep that economy progressing into success. The government attempts to maintain growth, employment, and price stability. The government can also manipulate the economy to slow down or speed up by adjusting spending and tax rates. This results in a fluctuation in the employment rates.
The government enforces taxes on goods and services, in order to create benefits for the economy. This affects our daily life because we have to pay these taxes at the moment of purchase, which provides the government with more money …show more content…
(2)
- Supporting advanced research and innovation to introduce new ideas, which are made into products and services in the marketplace. (2)
- Reducing red tape and the regulatory burden faced by businesses. (2)
- Creating natural resources in a responsible and secure way. (1)
- Helping businesses succeed in the global economy by encouraging trade and foreign investment. (1)
- Investing in public infrastructure. (1)(2)
- Supporting families and communities by keeping taxes low for families and improving the safety of Canadians. (1)
4. Analyze the budget using a chart like the one below. In the first column, note the change giving specifics. In the second column, note what the government hopes to achieve with this change. In the third column, analyze which economic goal(s) this measure will help to achieve. Include at least 10 different changes.
By means of this specific change:
Government hopes to:
To help achieve the following goals:
Elimination of the deficit, reducing debt and controlling expenditures
Balance the budget and to keep the economy stable
Continuing to control direct program spending and improving the integrity of the tax system.
Promoting job