The Role of Economics in Shaping Public Policy Analyze how economics plays a vital role in shaping public discussion in the following policy areas: Household taxationBusiness taxationImport taxation

The Role of Economics in Shaping Public Policy 

Analyze how economics plays a vital role in shaping public discussion in the following policy areas:

• Household taxation
• Business taxation
• Import taxation (tariffs)

Provide 1 example of each of the discussions you analyzed above and how that example plays out in your life and career within 300-400 words. 

Factors of Production

Innovation and physical capital are two of the four factors of production. Analyze specific ways that 1 of the following laws increased the productivity of innovation and physical capital:

• 1862 Pacific Railway Act
• 1956 Federal Aid Highway Act
• 1946 Federal Airport Act

Now that you have considered how a law can increase the productivity of innovation and physical capital, address the following in 300-400 words:

• Describe 3 other examples of economic concentration.
• What are the risks and advantages to economic concentration?
• How has economic concentration influenced your industry?