Economics 1022A/B Lecture Notes - Lecture 19: United States Budget Process, Duvet, Fiscal Policy

• School: Western University
• Department: Economics
• Course: Economics 1022A/B
• Professor: Jeannie Gillmore

Document Summary

After studying this chapter you will be able to: Describe the federal budget process and the recent history of outlays, revenues, de cits, and debt. Explain the supply-side effects of scal policy. Explain how scal stimulus is used to ght a recession. The annual statement of the outlays and revenues of the government of canada. together with the laws and regulations that prove and support those outlays and revenues make up the federal budget. The provincial budget is the same for an individual provence. The use of the federal duvet too achieve macroeconomic objectives such as full employment, sustained long-term economic growth, and price level stability. The process begins with long, drawn-out consultations between the minister of nance and the department nance of cials and their counterparts in the provincial governments. These discussions deal with programs that are funded and operated jointly by the two levels of government.