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Discuss the Circular Flow diagram and what you feel the Government's role should be in maintaining its balance. Does the government have a role to play at all or should the government keep as much distance from the process as possible - Essay Example

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The purpose of this paper is to study and analyze the Circular Flow of Income and Expenditures and what role government plays in maintaining its balance. Either it should get involved playing its role or it should stand aside and watch it from a distance.
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Discuss the Circular Flow diagram and what you feel the Governments role should be in maintaining its balance. Does the government have a role to play at all or should the government keep as much distance from the process as possible
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Discuss the Circular Flow diagram and what you feel the Government's role should be in maintaining its balance. Does the government have a role to play at all or should the government keep as much distance from the process as possible

Download file to see previous pages... Gross Domestic Product (GDP) and Gross Domestic Income and Consumption are used to calculate this (McEachern).
Governments are formed to help, guide, and lead the public and to provide them with the basic necessities. Therefore, households expect a lot from the government, which doubles their role in this regard. Keeping this scenario in mind, the role of the government is a crucial one, which should be focused on helping the people by solving their issues (McEachern).
It has been witnessed that households are also supposed to pay net taxes to the government while the government also increases the leakages in the circular flow by adding government expenditures (McEachern). The government leakage in the circular flow is the government expenditure or the government spending made by the government during a fiscal year which affects the overall circular flow. Thus, government has certainly failed in maintaining balance in the circular flow of income and expenditures. It is high time that the government must understand its role and act responsibly in this regard as it is getting difficult for households to maintain the flow ...Download file to see next pagesRead More
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