Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN: 9781305506725
Author: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher: Cengage Learning
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Question
Chapter 12, Problem 6CQ
To determine
The supply side view of fiscal policy and differentiate with the
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Outline the supply-side view of fiscal policy. How does this view differ from the various demand-side theories? Would a supply-side economist be more likely to favor a $500 tax credit or an equivalent reduction in marginal tax rates? Why?
How could fiscal policy alleviate the problem? What specific policy changes would be needed?
State any two objectives of fiscal policy?
Chapter 12 Solutions
Economics: Private and Public Choice (MindTap Course List)
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- Is expansionary fiscal policy more attractive to politicians who believe in larger government or to politicians who believe in smaller government? Explain your answer.arrow_forwardWhat type of fiscal policy would be appropriate to use during a recessionary period? How might this affect aggregate demand, unemployment, and inflation?arrow_forwardEvaluate the effectiveness of fiscal policy as a tool to reduce unemployment.arrow_forward
- If the objective of fiscal policy is to stabilize (achieve full-employment (potential) GDP and maintain price level stability (control inflation)) the economy and promote economic growth, then would an annually balanced budget be effective? Why or why not?arrow_forwardBased on the Krugman text and your reader articles, what position do you take on the current fiscal policy debate of stimulus vs austerity? Be sure to include the current tight job markets, moderate-high inflation, and high-debt conditions in justifying your answer.arrow_forward
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