Fiscal Policy Questions 0.0 / 5 ? EconomicsFiscal policyASAQA Created by: 154100Created 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
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