Podcast
Questions and Answers
What is the primary function of fiscal policy as defined in the text?
What is the primary function of fiscal policy as defined in the text?
- Allocation
- Economic growth
- Stabilisation (correct)
- Redistribution
Who is credited with significantly influencing the development of fiscal policy according to the text?
Who is credited with significantly influencing the development of fiscal policy according to the text?
- Milton Friedman
- Karl Marx
- Adam Smith
- John Maynard Keynes (correct)
What prompted the emergence of fiscal policy as an important macroeconomic tool?
What prompted the emergence of fiscal policy as an important macroeconomic tool?
- Technological advancements
- Rise of public expenditures in GDP (correct)
- Industrial Revolution
- Globalization
What purpose does fiscal policy aim to achieve in relation to the economic cycle?
What purpose does fiscal policy aim to achieve in relation to the economic cycle?
Which historical event marked the transformation of governments into major players in aggregate demand?
Which historical event marked the transformation of governments into major players in aggregate demand?
In the context of fiscal policy, what impact did doubts raise toward the end of the twentieth century?
In the context of fiscal policy, what impact did doubts raise toward the end of the twentieth century?
What does a public budget document specify?
What does a public budget document specify?
Why is the stabilization function usually mainly shouldered by the central government?
Why is the stabilization function usually mainly shouldered by the central government?
Which of the following is NOT a source of income mentioned in the text?
Which of the following is NOT a source of income mentioned in the text?
What kinds of activities are typically funded by public budgets?
What kinds of activities are typically funded by public budgets?
Why do countries presently attempt to reduce the public budget according to the text?
Why do countries presently attempt to reduce the public budget according to the text?
What is the main reason behind fiscal policy being rehabilitated as a key prescription post-2008?
What is the main reason behind fiscal policy being rehabilitated as a key prescription post-2008?
