Fiscal Policy Questions

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  • Created by: 154100
  • Created on: 13-04-16 14:04
Define Budget Surplus
when the amount of tax the gov. receives is greater than the amount of money it spends
1 of 6
Define Budget Deficit
When the gov. spends more than it receives in tax
2 of 6
Define Expansionary Fiscal policy
Increase AD by decrease in T or increase in S
3 of 6
When is Expansionary Fiscal Policy used?
During a recession
4 of 6
Define Contractionary Fiscal Policy
Decrease AD by increase in T or Decrease in S
5 of 6
When is Contractionary Fiscal policy used?
During a boom
6 of 6

Other cards in this set

Card 2

Front

Define Budget Deficit

Back

When the gov. spends more than it receives in tax

Card 3

Front

Define Expansionary Fiscal policy

Back

Preview of the front of card 3

Card 4

Front

When is Expansionary Fiscal Policy used?

Back

Preview of the front of card 4

Card 5

Front

Define Contractionary Fiscal Policy

Back

Preview of the front of card 5
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