The government levies tax on consumers

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For each of the following scenarios involving the U.S. government, determine the primary function of government that is being served.

The government levies a tax on consumers and businesses to pay for the provision of a public good (such as national defense).

1. Productive function whereby the government produces goods that are difficult for private markets to supply

2. Productive function whereby the government redistributes income from rich to poor

3. Productive function whereby the government maintains market competition

4. Protective function whereby the government enforces property rights

5. Members of the Federal Reserve Bank, the central bank of the United States, meet every six weeks to adjust interest rates based on economic conditions.

1 Reallocating resources

2 Redistributing income

3 Maintaining competition

4 Promoting stability

Reference no: EM131166750

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