This reflection activity is comprised of two sections

collectively totaling a minimum of 500 words. Complete

your reflection by responding to all prompts.

The Role of Economics in Shaping Public Policy

Analyze how economics plays a vital role in shaping public

discussion in the following policy areas:

• Household taxation

• Business taxation

• Import taxation (tariffs)

Provide 1 example of each of the discussions you

analyzed above and how that example plays out in your

life and career.

Factors of Production

Innovation and physical capital are two of the four factors

of production. Analyze specific ways that 1 of the

following laws increased the productivity of innovation

and physical capital:

• 1862 Pacific Railway Act

• 1956 Federal Ald Highway Act

• 1916 Forloral Airnort Art

Fig: 1