Summary
Summary ECON 112 - Chapter 7: Fiscal Policy
- Course
- Institution
summary of chapter 7 from Connect, with practices questions and answer
[Show more]
Seller
Follow
JustNotes
Content preview
Sunday, November 7, 2021Chapter 7 : Fiscal Policy
ECON 112: Macroeconomic Theory
1
, - 3 Budget philosophies:
+ Balanced budget fiscal policy
+ Countercyclical policy
+ A cyclically balanced budget policy
- Fiscal policy: government’s approach toward its own spending and taxation.
- Countercyclical fiscal policy: deliberate adjustments in the levels of government
spending and taxation in order to close recessionary or inflationary gaps.
- The largest source of revenue is personal income tax followed by EI premiums.
- Corporate income and other taxes are taxes on profits paid by companies and
non-resident.
- GST and excise taxes include the federal sales tax and excises taxes on gasoline,
alcohol, and cigarettes, plus tariff revenues on certain imports.
2
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller JustNotes. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.48. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
79400 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now