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Describe the overall involvement of the government in the free enterprise system of the U.S. economy.

Identify three specific areas where the government plays an important role and provide an example of each. (4 points)



Answer :

GinnyAnswer

Final answer:

The government in the U.S. free enterprise system plays roles in regulation, taxation, and providing public goods.


Explanation:

The government in the U.S. free enterprise system plays a key role in ensuring fair competition, protecting consumer rights, and providing public goods and services.

Three specific areas where the government is important are:

  1. Regulation: The government enforces antitrust laws to prevent monopolies. For example, the Federal Trade Commission monitors mergers to ensure fair competition.
  2. Taxation: Through taxation, the government funds public services like infrastructure. An example is the gasoline excise tax used to maintain roads.
  3. Public Goods: The government provides goods like national defense. For instance, the military ensures the country's security.

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