Economics

As a team, evaluate the effects of government policy on economic behavior

After evaluating government policies one can see that it is capable of developing an intense effect on economic behavior. Although the effect is both helpful and damaging, one can look at the modifications in banking regulations the downfalls and sporadic functions of banks. A perfect example would be the federal government’s role in regulating the money supply. A country’s money supply is thoroughly attached to all stages of its economic actions. The smallest modification in a country’s money supply will have economic effects on employment levels, output levels, and income levels.

What is the World Trade Organization? Briefly describe one trade topic identified by the World Trade Organization on the website. And what did the team learn from the Website about the World Trade Organization?

The World Trade Organization is the generational child of the United Nation. The WTO was originally conceived to be the trading arm of the United Nation, but it had been halted, renamed, and reintroduced to a modern world that eventually accepted it. What the United Nation does in negotiating peace, the World Trade Organization is supposed to do in negotiating free and fair trade between countries, especially those who are poor and cannot adequately represent themselves on the world market. They also are regulators for treaty rules between countries; making sure all regulations are kept with their statutes and also other countries statutes.

A topic that the team viewed on the website is how much responsibility does the World Trade Organization bear in this current economic crisis. Has the World Trade Organization’s policy for open trade added fuel to the fire of the worldwide consumer crisis.

The WTO does more than handle trade between countries. It tries to negotiate peace whenever disputes and fighting results because of a disagreement over goods, services, imports, and...