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Lecture

ECON 2010 Prin Macroeconomics Chapter 16 Notes

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Department
Economics
Course
ECON 2010
Professor
All Professors
Semester
Winter

Description
1Chapter 16 Fiscal PolicyIFiscal PolicyaFiscal policynational federal level government actionsstrategy utilizing the tax code or government spending so as to achieve desired macroeconomic objectivesbPolitical leaders will adjust the tax code or spending levels specifically for the benefit of broadbased economic targetsemployment GDP exports etccExample stimulus spending programsrebate checksdDoes not include fiscal measures intended for areas other than economic performanceeAutomatic stabilizergovernment spendingtaxes that automatically increase or decrease along with the business cycleiWhen the economy is expanding incomes riseHigher incomes pay more taxesLess people rely on unemploymentiiWhen the economy contracts tax revenues declinePeople rely more upon government social services2
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