Chapter 12 The Role of Government in the Economy

Pre-listening Warm-up Questions 1) Are such Industries (oil, gas, electricity) privately or publicly owned in our country? 2) Do you think the U.S. government plays an active role in the nation ’ s economy? 3) Does our government play an active role in our country ’ s economy?

Pre-listening Vocabulary and Key Concepts  Read through the sentences and figure out what words would fit in the blanks. Then check your answers by listening to a dictation of the full sentences.  (See the sentences in the textbook on page )

Pre-listening Predictions  Using the pictures in your textbook and the vocabulary exercises as a starting point, write 3 questions that you think you can get answers in the lecture. (Answers vary)

Listening A. In the first listening, write down the subtopics. ST1: to protect the environment; ST2: to help people; ST3: to keep the marketplace competitive; ST4: to maintain economic stability B. In the second listening, write down necessary relevant details. Remember to use key words to save time.

Post-listening  Answer the following questions. 1. What are two examples of intellectual property? （ Songs, poems, books, inventions ） 2. What does free enterprise mean? （ The freedom to produce, buy, and sell goods and labor without government intervention. ） 3. What are two examples of the kind of things the government would be responsible for in a pure capitalistic system? (Laws governing contracts and property rights; national defense; and providing such things as roads and canals.) 4. Does the lecturer suggest that the role of the government in the economy is greater or less in this century than it was in the last century? (Greater) 5. What is the government’s role in relation to the environment? (To protect it)

Post-listening 6. For what kinds of reasons are some people not able to earn enough money to take care of themselves? (They are too young, old or sick) 7. Does the lecturer suggest that the government thinks competition is a good or bad thing? (A good thing) 8. What is an example of a large American company that was forced to divided itself into many smaller companies? (The telephone company [AT&T]) 9. What are the three methods that the government uses to maintain economic stability? (Taxation, expenditure, and controlling the interest rate on money it lends to business) 10. When the economy is growing too fast, does the government raise or lower the interest rate on money it lends to business? (It raises it )

Oral Activities Discuss with your classmates on the following questions Is our government basically laissez-faire, or does it take an active role in the economy? 2. 2.Does our government provide welfare, that is, help people who do not have enough money? 3. 3.What is the role of our government? 4. 4.Summarize the lecture.

Post-listening Written Work  Write a summary of the lecture within 250 words.