Question 5
What is meant by "a tariff on imports?" Summarize the domestic effect of a tariff on the price of imported goods?
Question 6
What is meant by discretionary fiscal policy? Give an example of how the government can use fiscal policy to stimulate consumer spending. (You must use the terms disposable income and
Question 7
What is meant by
Question 8
What is meant by the "National Debt?" Explain why the "National Debt" has been both a"benefit and a burden". Give one example showing a benefit and one example that shows the "National Debt" is a burden.
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