Reference no: EM131539910

1. In an essay of at least two well-developed paragraphs, explain how the theories of Adam Smith and John Maynard Keynes are seen in our present American Free Enterprise System.

2. In an essay of at least three well-developed paragraphs, explain the methods used by the government to protect the economic rights of those living in the American Free Enterprise System.

3. In an essay of at least two well-developed paragraphs, explain U.S. monetary policy functions and the tools the government uses to put these policies into action.

4. Why are taxes collected, and what role does the government play? Your answer should include a discussion of how taxes are used and should be at least two well-developed paragraphs in length.

5. In an essay of at least two well-developed paragraphs, explain how the national debt affects the economy and explain if these are positive or negative in nature.

6. In an essay of at least two well-developed paragraphs, explain how mandatory and discretionary spending are similar and how they are different.

7. In an essay of at least three well-developed paragraphs, explain how U.S. fiscal policies affect the economy and explain the differences between expansionary and contractionary fiscal policies.