problem 1) State the Employment Act of 1946 and the functions of the CEA and JEC.
problem 2) Differentiate between discretionary and nondiscretionary fiscal policy.
problem 3) Distinguish between expansionary and contractionary fiscal policy.
problem 4) Identify the conditions for recommending the expansionary or contractionary fiscal policy.
problem 5) Describe expansionary fiscal policy and its effects on an economy and Federal budget.
problem 6) Describe contractionary fiscal policy and its effects on economy and Federal budget.
problem 7) describe the two ways to finance the government budget deficit and how each affects economy.
problem 8) describe the two ways to handle the government budget surplus and how each affects economy.
problem 9) prepare down two exs of how built in stabilizers help eliminate recession or inflation.
problem 10) Describe the differential impacts of progressive, proportional, and regressive taxes in terms of stabilization policy.
problem 11) Describe the importance of the “full-employment budget” concept.
problem 12) prepare down the three timing problems encountered with fiscal policy.
problem 13) Define political problems which limit effective fiscal policy.
problem 14) Describe and recognize graphically how crowding out and inflation can reduce effectiveness of fiscal policy.
problem 15) prepare down the two exs of complications which may arise when fiscal policy interacts with international trade.
problem 16) prepare down the ex of supply side fiscal policy and three possible positive effects from it.