| 4.1 |
Explain the basic functions of
government in a market economy. |
| 4.2 |
Explain how
markets produce too few public goods and how the government
determines the amount to produce through looking at benefits and
costs. |
| 4.3 |
Describe how the government
taxing harmful spillovers and subsidizing helpful spillovers helps
to resolve the inefficiency they cause. |
| 4.4 |
Describe major revenue and
expenditure categories and their respective proportions of local,
state and federal budgets. |
| 4.5 |
Explore the ways that tax
revenue is used in the community. |
| 4.6 |
Identify taxes paid by
students. |
| 4.7 |
Define progressive,
proportional and regressive taxation.
|
| 4.8 |
Determine whether different
types of taxes (including income, sales and social security) are
progressive, proportional or regressive. |
| 4.9 |
Describe how costs of
government policies may exceed benefits, because social or political
goals other than economic efficiency are being pursued.
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