Fiscal policy to increase real GDP when below potential

Fiscal Policy and Economic Concepts

Flashcard
•
Social Studies
•
12th Grade
•
Hard
Danielle Danielle.Warner
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8 questions
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1.
FLASHCARD QUESTION
Front
Back
Increase government purchases
2.
FLASHCARD QUESTION
Front
Effect of contractionary fiscal policy on aggregate demand curve
Back
Shifts the aggregate demand curve to the left to close a recessionary gap
3.
FLASHCARD QUESTION
Front
Definition of transfer payments
Back
Payments the government makes to households who meet entitlement criteria set by Congress
4.
FLASHCARD QUESTION
Front
Examples of government transfer programs
Back
Social Security, Medicare/Medicaid, Unemployment Payments, Food Stamps
5.
FLASHCARD QUESTION
Front
Fiscal policy to combat unemployment
Back
Increasing government purchases
6.
FLASHCARD QUESTION
Front
True or False: Government can use contractionary fiscal policy to address inflation
Back
True
7.
FLASHCARD QUESTION
Front
Policy options for a recessionary gap
Back
List two fiscal policy options to move the economy closer to potential real GDP
8.
FLASHCARD QUESTION
Front
Policy options when output exceeds potential GDP
Back
List two fiscal policy options to move the economy closer to potential real GDP
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