Explain the about Fiscal Policy
Explain the about Fiscal Policy.
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Fiscal Policy:
It means the variation in taxation and public expenditure programmed through the government to achieve exact objectives. Taxation assists to withdraw cash by the public. A raise in tax results in reduction of private disposable income. Taxes must be reduced during the depression will stimulate private sector. During boom period’s public expenditure must be curtailed, therefore cash flow can be decreased.
The fiscal policy of the government to regulate purchasing power to control business cycle is termed as counter the cyclical fiscal policy. Counter-cyclical fiscal policy within the boom period means a reduction in the public expenditure and a surplus budget and heavy taxes. The budget surplus can be used to eliminate earlier deficits. This means an increase in public expenditure, reduction within taxation and deficit budgeting throughout the depression. The monetary policy proves more effectual to control boom than to depression. An appropriate mix of fiscal and monetary policy will be more fruitful within the control of business cycles.
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The demand for labor is less elastic when: (w) resource substitution is easy. (x) output demand is relatively inelastic. (y) wages are a huge percentage of total cost. (z) firms have more time to adjust to wage changes. Discover Q & A Leading Solution Library Avail More Than 1460467 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1938119 Asked 3,689 Active Tutors 1460467 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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