Please provide your answer to the following question(s) using essay format. Essay format should include an introduction paragraph with a thesis statement, a body, and a conclusion paragraph. The essay should be 3 pages (750 to 1,000 words) and should include at least (2) academic resources. Your reader/audience is the general public.

Be sure to carefully read each question to ensure that each component is answered with the appropriate depth and detail. Your answers should be free of spelling and grammar errors. When you use reference material, you must properly cite your sources by using in-text citations. You must also include a reference list. All documentation must be rendered in APA citation style.

Answer the following questions:

1. Begin by explaining fiscal policy.

2. Describe expansionary and contractionary fiscal policies. Identify the situations in which expansionary fiscal policy and contractionary fiscal policy would be used.

3. Provide examples of fiscal policy being used in both the past and present day.

4. Examine any downsides to fiscal policy such as fiscal lags, the impact on national debt or other issues.