What is fiscal policy, who makes it, and what is it designed to influence?
What will be an ideal response?
Fiscal policy is the use of the federal budget to achieve macroeconomic objectives. Fiscal policy is made by the president and Congress. It is designed to influence employment, economic growth, and price level stability.
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The political wisdom of choosing a tariff acceptable to the median U.S. voter is
A) a good example of the principle of the second best. B) a good example of the way in which actual tariff policies are determined. C) a good example of the principle of political negotiation. D) not evident in actual tariff determination. E) usually evident in actual tariff determination.
Peanut butter and jelly are:
a. substitutes and have a positive cross-price elasticity of demand. b. complements and have a positive cross-price elasticity of demand. c. substitutes and have a positive cross-price elasticity of demand. d. complements and have a negative cross-price elasticity of demand. e. inferior goods when the income elasticity of demand is positive.