Social Studies, 30.06.2019 12:20 shawny5

In a republic, elected officials create what to regulate the economy?

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Answer from: lol4373

In a Republic, elected officials create economic laws and public agencies to regulate the economy. For example, the United States Congress pass diferent laws every year related to economic issues, and the Cabinet of the United States also has its own economic-related Departments, like the Department of the Treasury and the Department of Commerce, among others.

Answer from: princessjsl22

In a Republic, elected officials create economic laws and public agencies to regulate the economy.

Further Explanation:

In USA president and Congress set the fiscal policy. It is regulated by the executive and legislative branches. In the executive branch the most important offices belong to the president and the secretary of the treasury. President depends on the economic advisers. In the legislative branch, the US Congress passes the laws and appropriately spending for fiscal policy measures. The fiscal policy measures include participation and deliberation on the policy matter and then Final approval rest with the Senate and House of Representatives. On the fiscal policy judicial branch also have control over it. The Supreme Court or the lower court has the power of legitimizing and amending or declared the policy as unconstitutional if it affects the national economy. The taxing and spending clauses mentioned in article 1, section 8, clause one that authorizes Congress to levy the taxes. The Constitution only specifies two purposes for the taxation to pay debts of the national government and providing of the common defence. The fiscal policy is the economic strategy which utilizes the spending and taxing powers of the government that impacts the nation‘s economy. It is different from Monitory policy that is set by the central bank which focused on interest-rate and money supply.

Learn More:

1. rome was considered a republic because link

2. what contributed to the downfall of china’s republic? link

Answer Details:

Grade: High School

Chapter: Fiscal Policies

Subject: Social Science

Keywords: Government, regulates, spending, taxation, deliberation, participation, debts.

Answer from: Quest

you so !

Answer from: Quest

Both stories have something in common

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