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Fiscal policies are a potential lever that the government can pull in these case

ID: 1160742 • Letter: F

Question

Fiscal policies are a potential lever that the government can pull in these cases. Unfortunately, we have to get the mix right. Which lever should be pulled? When and by how much should government act? For this week, you are to explain how the government can use fiscal policy to help fix an economy. And then compare and contrast the benefits with the pitfalls of using fiscal policy. Fiscal policies are a potential lever that the government can pull in these cases. Unfortunately, we have to get the mix right. Which lever should be pulled? When and by how much should government act? For this week, you are to explain how the government can use fiscal policy to help fix an economy. And then compare and contrast the benefits with the pitfalls of using fiscal policy. Fiscal policies are a potential lever that the government can pull in these cases. Unfortunately, we have to get the mix right. Which lever should be pulled? When and by how much should government act? For this week, you are to explain how the government can use fiscal policy to help fix an economy. And then compare and contrast the benefits with the pitfalls of using fiscal policy.

Explanation / Answer

Fiscal policy is a tool for government with that the government can fix the economy as per the economic situations. The government can use two types of fiscal policy. Firstly the expansionary fiscal policy when economic growth was slowed down in the economy. To boost demands, the government can provide economic stimulus and cut tax rates to increase the disposable income in the hands of consumer. Secondly, the government can use contractionary fiscal policy to curtail inflation when economy is on boom phase. The government can increase taxes to reduce disposable incomes and raise interest rates on borrowings to reduce money in the economy.

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