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Created by: sabrina2012
Created on: 20-11-13 18:34

Fiscal Policy definition

Are decisions made by the government for government expenditure and taxation.

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What is Fiscal Policy?

Governments spend large amounts in the economy. Therefore changes to Government expenditure

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What is Fiscal Policy?

Governments spend large amounts in the economy. Therefore changes in government expenditure have a major impact on economic performance and the governmant's ability to reach its economic objectives.

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What is Monetary Policy?

The BOE is the UK's central bank. Its the centre of the UK's financial system and is responsible for setting monetary policy. The UK's monetary policy involves changes in interest rates that represent the cost of borrowing money.

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Interest Rates?

The cost of borrowing and the reward for saving money.

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Indirect Taxes

Taxes on expenditure (e.g. VAT) They are added on the selling price of the product.

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Direct Tax

Taxes on incomes (e.g.income tax) They are placed on individuals incomes.

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Other cards in this set

Card 2

Front

What is Fiscal Policy?

Back

Governments spend large amounts in the economy. Therefore changes to Government expenditure

Card 3

Front

What is Fiscal Policy?

Back

Card 4

Front

What is Monetary Policy?

Back

Card 5

Front

Interest Rates?

Back

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