Week 18 Refresher 1

What are fiscal policies?

• Government strategies that aim to regulate the overall level of economic activity by adjusting interest rates and money supply

• The actions taken by the government to manage its budget, including taxation and spending, to influence the economy

• The management of international trade agreements and negotiations to promote economic growth

• Private sector initiatives aimed at controlling inflation and stabilizing prices in the market

What are expansionary fiscal policies?

• Government actions to increase spending and increase taxes to slow down the economy
• Government actions to increase spending or decrease taxes to stimulate the economy
• Government actions to decrease spending and keep taxes the same to stimulate the economy

What are contractionary fiscal policies?

• Government actions to decrease aggregate demand and slow down economic growth
• Government actions to maintain aggregate demand and stabilize economic growth
• Government actions to increase aggregate demand and speed up economic growth

What is this an example of:
Allocation of funds for the development and maintenance of physical and organizational structures

• Transfer payments

• Current spending

• Infrastructure spending

What is this an example of:
Expenditures on the day-to-day operations and maintenance of the Government

• Infrastructure spending

• Transfer payments

• Current spending

What is this an example of?

Payments made by a government to individuals or groups without any goods or services being received in return

• Transfer payments

• Infrastructure spending

• Current spending

What is this an example of:

People do not have money available to spend and they lose confidence in the economy and are less positive about their future situation with respect to employment, money and so on.

• Infrastructure projects

• Contractionary spending

An accounts receivable department will deal with:

• Handling employee payroll
• Managing and collecting payments from customers or clients.
• Paying utility bills

Private companies must keep accounting records for _ years from the date they were made.

Generally, accounts must include:

• A profit and loss account

• Customer addresses

• Notes to the accounts

• A balance sheet signed by the director