An example of fiscal policy occurs when the government decreases corporate income taxes.

Answer the following statement true (T) or false (F)

True

Fiscal policy is the use of government taxes, including taxes on corporate income and spending to alter macroeconomic outcomes.

Economics

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Incentives work by changing the trade-offs faced by individuals

Indicate whether the statement is true or false

Economics

If your business earns $10,000 in revenues, has explicit costs of $7,000, and implicit costs of $5,000, your accounting profit is

A) $2,000. B) -$2,000. C) $5,000. D) $3,000.

Economics