During a recession, if counter-cyclical fiscal policy were implemented we would expect the government to incur a ... Group of answer choices 1. Deficit 2. Surplus

“Counter-cyclical fiscal policy” intends to ... Group of answer choices a. Stop the business cycle b. Decrease government spending c. Make the highs of the business cycle higher, while making the lows less low d. Smooth out the business cycle

Which of the following is NOT a component of federal fiscal policy?   A. Federal tax revenues   B. Federal government expenditures   C. Federal budget deficit   D. All of the above are components of federal fiscal policy

List the 3 major economic goals of fiscal policy.   Who is responsible for fiscal policy?       What issue or problem in the economy would be fixed with expansionary fiscal policy? Contractionary fiscal policy?   Using an aggregate supply and demand graph, show what happens when expansionary fiscal policies are enacted such as the 2017 Tax Cuts and Jobs Act when the economy is at full employment. Label all of the curves, the vertical and horizontal axis and show the direction and impact on the economy.