Govt Intervention Word Scramble
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| Question | Answer |
| State how the government intervene in the economy? Give 6 answers | 1.Collect taxes 2.Pay social welfare 3.Semi state companies 4. Impose laws and provide consumer protection 5.Represent the Irish people at EU level 6.Take action during national emergencies |
| Explain 3 ways the government intervene in the economy. | Collect taxes- the govt imposes various taxes on income, payments, goods, services, profits etc.. 2.Pay social welfare-People who have lost jobs, have young children etc receive transfer payments from the state |
| What is monetary policy? | Actions taken by the ECB that influence the money supply interest rates and the availability of credit |
| What is fiscal policy? | Actions taken by the government that influence the timing magnitude and structure of current revenue( money in) and expenditure (money out) |
| State 2 advantages of government intervention? | 1. Foregin direct investments 2. Regulates the development of monopolies |
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omeliaeconomics
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