chapter 4 lists Flashcards
name the seven government involvements in business?
crown corporations
laws and regulations
the bank of Canada
taxation and financial policies
government expenditures
purchasing policies
services
laws are derived from 4 what sources?
the constitution
precedents established by judges
provincial and federal statutes (laws)
federal and provincial agencies
name 5 responsibilities that the federal government could impact business?
trade regulations
incorporations of federal companies
taxation (direct and indirect)
the banking and monetary system
criminal law
name 5 roles of provincial government in business?
regulation of provincial trade and commerce
direct taxation for provincial purposes
incorporation of provincial companies
labour law
education
name 5 services the municipal government provide?
roads
laws regarding food service
garbage disposal
building codes
libraires
what are the 3 goals of the monetary policy?
minimize inflation
maintain real out put to its real potential of the canadian dollar (try to keep 1 dollar worth 1 dollar)
regulate the external value of the canadian dollar in foreign exchanges
what is the monetary policy?
the monetary policy is a set of decisions that the government makes through its central bank that manages the interest rates and money supply
what is the fiscal policy?
how the government collects and spend tax dollars
what is the first half of the fiscal policy?
involves taxation, drawing money away from the private sector and remitting it to the government
what is the second half of the fiscal policy?
government spending of tax dollars
how does an expansionary fiscal policy effect taxes and government spending?
government spending increases and tax rates decreases to stimulate spending
how does a contractionary fiscal policy effect government spending and tax rates?
government spending decreases and increase tax rates to restrain spending
