Quality information is derived from data.
Answer:
The transfer of ownership, property or business from the government to the private sector is termed privatization. The government ceases to be the owner of the entity or business. The process in which a publicly-traded company is taken over by a few people is also called privatization.
Answer:
When Roosevelt cut spending in 1937, the U.S. economy returned to the abysmal economic status of 1932–1933
Explanation:
Economists believe that the recession during 1937 was the result of government's decision to curb government spending as this idea was immature. Even after Roosevelt's decision there was recession and political atmosphere heated up due to this.
Roosevelt and his advisors made a decision to curb government spending thinking it would take the country of recession. It is also believed that there was contraction in the money supply caused by 'Federal Reserve and Treasury Department' policies which may have contributed to the Recession. Unemployment grew worsening the situation.
The economist John Maynard Keynes supported the idea that government should increase the spending to increase demand.
Answer:
A. make sure government programs can function properly.
Explanation:
Taxation can be defined as the involuntary or compulsory fees levied on individuals or business entities by the government to generate revenues used for funding public institutions and activities.
The different types of tax include the following;
1. Income tax: a tax on the money made by workers in the state. This type of tax is paid by employees with respect to the amount of money they receive as their wages or salary.
2. Property tax: a tax based on the value of a person's home or business. It is mainly taxed on physical assets or properties such as land, building, cars, business, etc.
3. Sales tax: a tax that is a percent of the price of goods sold in retail stores. It is being paid by the consumers (buyers) of finished goods and services and then, transfered to the appropriate authorities by the seller.
The main reason for government spending such as building public schools, power supply, water, development of infrastructures, etc., is to ensure and facilitate the proper functioning of all government programs.
Hence, the government of a particular country is saddled with the responsibility of spending on basic projects or programs so as to create a sustainable, growing and efficient economy for its citizens.
