Click HERE to read the notes

d

The public sector refers to all levels of government in an economy. In a market economy, the role of government is to provide what the private sector cannot offer and also to adjust allocation of resources and market outcomes that are not optimal for the society. The role of government includes such things as providing national security, public roads and facilities; protecting the environment as well as consumers and workers, and securing economic stability and growth. Wars, technological advancements, recessions, population increase, and people's expectations have caused significant increases in the role of governments, especially since the Great Depression of 1930s. Continued rapid technological advancements, population growth, environmental concerns, predominance of large businesses, and globalization issues may cause even further increases in the role and share of governments in the economy. In this part of the course, different aspects of government involvement in the US economy are explored.

www.census.gov/govs/www/qtax.html State and local government tax revenue --Guide

http://www.taxadmin.org/fta/rate/tax_stru.html State tax rate comparisons--Guide