Which statement best describes why a government’s actions are important in macroeconomics? Check all that apply.
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Govt. plays an important role in the macroeconomic environment. Even though the prices are regulated by the mechanism of demand and supply however, the role of govt. cannot be avoided in order to keep the economy on track.
- Government controls industry through policy: With fiscal policy, govt. controls the industries and their actions.
- Government is both a consumer and a producer: By spending money on public projects govt. provides jobs, as well as purchase goods and services from industries to execute those projects.
- Government can use policy to influence the economy. With the intervention of monetary and fiscal policies govt. can regulate the economy.
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