reference common sense economics ten key elements of economic thinking about the role of government

W AutoSave On econimics email checkpoint 3 . Saved . Search (Alt+Q) brooke reberger BR X File Home Insert Draw Design Layout References Mailings Review View Help Comments v Share G 12 ~ A" A" Aa* Ap EEVENT Find Calibri (Body) Normal No Spacing Heading 1 c Replace Paste BI Ub X x A LA. Dictate Editor Select Undo Clipboard Font Paragraph Styles Editing Voice Editor Q1-Look at the following two statements and explain the differences between the two in application. Give examples. What is your concern(s) with this? 1. Government's role, if constrained within proper boundaries, can be a force for prosperity 2. If government expands excessively and undertakes activities it is not suited for, it undermines economic progress (6 pts.) Q2-How has the "Keynesian revolution" affected the role of government and its economic impact today? What are the potential consequences of legislative bodies' desire to spend more now on the long-term health of the economy? Are we, or do we, hear the truth about it in this political season we are now in? Give at least one specific example of what you have seen/heard that goes against sound economic principles and practices (i.e., political ad, podcast, media articles, online platforms, etc). Secondary effects hidden? (7 pts.) Q3-Show your understanding of the following by providing an applied example (could be a good or bad effect) of each of these: . Eminent domain . Tragedy of the Commons Expansionary monetary policy 4. Rational ignorance effect 5. War on Poverty 6. Logrolling/Pork barreling_(8 pts.) Q4-What role does the government play in the use of what economist call "rent seeking"? (What is it?) How does "crony capitalism" impact the success of a market allocation system? Is there reason to believe elected officials and government "experts" will do a better job of allocating resources than profit seeking business entrepreneurs? Why/why not? (6 pts.) Q5-What video and/or reading was most beneficial to you in understanding Part III of CSE and economics in general? Which part of Part III was most difficult or challenging to you, or did you find most difficult from your preconceived views of economic thinking? (3 pts.) Page 1 of 1 297 words DX Text Predictions: On 1Accessibility: Good to go [ Focus .+ 80% 68 F W 11:27 AM () O 4/6/2022 3 Partly sunny