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What event led to widespread calls for greater government involvement in the economy?
the great depression
Opportunity costs of a greater government role in the economy?
no control for the businesses so they have to pay for higher expectations and limitations.
What are some opportunity costs of a greater government role in the economy?
greater role were costly to implement, cutting into profits, slowing growth, and force businesses to charge unnecessary high price
What are some opportunity costs of greater government role in the economy?
greater role were costly to implement, cutting into profits, slowing growth, and force businesses to charge unnecessary high price
Assume that a change in government policy results in greater production of both consumer goods and investment goods?
this economy's ppc is convex to the origin
Which generally occurs as a nation moves from an agricultural economy to an industrial economy?
There is a greater need for education and training
What is meant by the mixed economy of welfare?
A Mixed economy is an economy where the participants pay tax and other fees to support a government whose job it is to look after the defence of the country, the law and enforcement of law and infrastructure, which includes the welfare to a greater or lesser degree of its citizens. The countries that have this sort of economy are the best and most secure places to live. Tax charges go up as income does.
When was Royal Commission on Local Government in Greater London created?
Royal Commission on Local Government in Greater London was created in 1957.
What factors do you think allows some time periods to have greater political corruption than other time periods?
Economy, type of government, and the type of person that is being corrupted. Feel free to add to this if you like.
Write a short note on Mixed Economy?
Mix way economy is also known as mid way economy. Mix economy/ mid way, economy is one where resources are owned by the government and by the private sector. The basic question of · What to produce · How to produce & · For whom to produce Will be answered by the government and the private sector. The resource allocation will be made by both the sector. There will be government planning and private sector will take decision based on customer preference. The vast majority of countries around the world have some form of mixed economy where some resources are allocated through the price or market mechanism and other are allocated by the state. In theory, such a system is able to combine the best element of both a planned economy and a market economy. In reality the proportion of planned and market varies, with some countries placing more emphasis on market solution to resources allocations another favoring a greater role for estate for planning. One example of mix economy /mid way economy is: MAURITIUS
How did the Great Depression create a dramatic change in the political and economic systems?
The Federal government became directly involved with the economy through employment and public-works programs, as well as greater oversight of the financial and banking systems.
What is Active involvement in world affairs called?
Active involvement in world affairs is called internationalism. Internationalism is a movement which advocates a greater economic and political cooperation among nations for the theoretical benefit of all. Wilson's program of political and social reform was called progressivism.
