The fiscal policy is formulated by?
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For many years, the overall economic policy of the United States has been a balancing act between fiscal policy and monetary policy. Explain what is meant by the following:
(A). Fiscal policy
How is fiscal policy set?
Who sets fiscal policy?
How does this policy affect the economy?
(B) Monetary policy
How is monetary policy set?
Who sets monetary policy?
How does this policy affect inflation, the economy?
Explain what is meant by fiscal policy. Give 2 examples of tools that can be used to implement fiscal policy. What are some of the problems with using fiscal policy?