Fiscal policy flashcards


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Fiscal policy is carried out primarily by The federal government
In the Employment Act of 1946, the Federal government committed itself to to accept some degree of responsibility for the general levels of employment and prices
Fiscal policy refers to the manipulation of government spending and taxes to stabilize domestic output, employment, and the price level
Discretionary fiscal policy refers to changes in changes in taxes and government expenditures made by Congress to stabilize the economy
Discretionary fiscal policy is so named because it involves specific changes in T and G undertaken expressly for stabilization at the option of Congress
Discretionary fiscal policy will stabilize the economy most when deficits are incurred during recessions and surpluses during inflation
Countercyclical discretionary fiscal policy calls for deficits during recessions and surpluses during periods of demand-pull inflation
Expansionary fiscal policy is so named because because it is designed to expand real GDP
Contractionary fiscal policy is so named because is aimed at reducing aggregate demand and thus achieving price stability

Fiscal policy is carried out primarily by

In the Employment Act of 1946, the Federal government committed itself to

Fiscal policy refers to the

Discretionary fiscal policy refers to changes in

Discretionary fiscal policy is so named because it

Discretionary fiscal policy will stabilize the economy most when

Countercyclical discretionary fiscal policy calls for

Expansionary fiscal policy is so named because

Contractionary fiscal policy is so named because

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