Professional Custom Accounting papers: Identify the two general ways in which government makes a market economy possible.
Financial affairs are generally managed by the department of treasury, headed by the secretary of treasury. There are four institutions under the office of treasurer, office of domestic finance, office of international affairs and office of terrorism and financial intelligence. Domestic finance deals with all domestic financial affairs including public affairs, legislative affairs, tax policies etc.
2. What are the U.S. foreign policy goals (identify and provide brief description)? What counts as success?
The U.S. foreign policy goals include promoting peace, preserving national security and securing a global environment by maintaining the balance of power among all nations. The presence of peace in the entire world would guarantee security and a balance of power. As long as all these are in place, then it is safe to say that the policy goals are a success.
3. Contrast contributory programs with public assistance programs. What are the advantages and disadvantages of each?
A contributory program is a social program financed by taxation e.g. Medicare and social security. Public assistance programs are forms of support in a publicly funded facility such as SSI payments, VA service and nonservice related disability pensions. Unlike contributory programs, public assistance can be provided in cash.
4. Identify the two general ways in which government makes a market economy possible.
The U.S government can only oversee the working of an economy and should never intervene as it does not need to micro manage it. It does this by providing goods and services which have high social priority but very low profit margin e.g. building social infrastructure like highways, providing security through defense and maintaining law and order. It can also make and oversee rules and regulations that are binding on the private sector.
