Topic 4

48問 • 1年前

問題一覧

_____________ refers to the government actions that affect total government spending activities, tax rates or tax revenues, or the government budget deficit.

Fiscal Policy

Fiscal Policy refers to the government actions that affect total government spending activities, tax rates or tax revenues, or the government budget ________.

deficit

Some economists defined ____________ as an instrument which can push the economy toward equilibrium when there are destabilizing elements operating in the economy.

Fiscal policy

Some economists defined fiscal policy as an instrument which can push the economy toward ____________when there are _____________ elements operating in the economy.

equilibrium, destabilizing

It is also concerned with the manipulation of inflows (government spending) and outflows (taxes) of the government sector, Its actions are oriented toward stability in the economy and promoting economic growth.

Fiscal Policy

Fiscal Policy. It is also concerned with the manipulation of __________and __________ of the government sector, Its actions are oriented toward ____________ in the economy and promoting economic growth.

inflows, outflows, stability

Most government spending and taxation are determined by factors that are totally ___________ to fiscal policy.

unrelated

The government spends to provide for the national defense, the basic and social economic needs of the poor, and to provide basic education for the people Government tax policy may aim to ___________ the distribution of income.

equalize

It may be designed to promote certain activities and discourage others.

Fiscal Policy

Such spending and taxation decisions are made independently of their impact on output and employment In contrast, ______________ is the deliberate control of government spending and tax policy for the purpose of affecting output, employment, or inflation.

Fiscal Policy

Such spending and taxation decisions are made _____________ of their impact on output and employment In contrast, fiscal policy is the deliberate control of government spending and tax policy for the purpose Of affecting output, employment, or inflation.

independently

____________ spend money and collect taxes on a continuous basis; Whether intended or not, their spending activities and taxing actions affect demand.

Government

Governments spend money and collect taxes on a _________ basis; Whether intended or not, their spending activities and taxing actions affect _______..

continuous , demand

Many ___________ actions take place automatically and require no policy decisions on the part of the government programs, such as the Government Insurance and Social Service (GSIS) and Social Security Services (SSS) which refer to the unemployment-compensation Payments.

fiscal policy

Many fiscal policy actions take place automatically and require ____ policy decisions on the part of the government programs, such as the Government Insurance and Social Service (GSIS) and Social Security Services (SSS) which refer to the ______________-compensation Payments.

no, unemployment

An _____________ program requires the government to pay the benefits of any person or unit of the government that meets the necessary eligibility stated in the entitlement payments; recipients need only demonstrate that they are qualified under the established rules.

entitlement

Once the rules are set, the government _______ determine the magnitude of such payments. Instead, the payment totals tend to depend on general economic conditions.

does not

Some economists identified two types of fiscal policy: the _____________ and the ___________________..

automatic stabilizer, discretionary policy

_______________ are government spending or taxation actions that take place without any deliberate government control and that tend to automatically dampen the business cycle.

Automatic Stabilizer

Automatic stabilizers are government spending or taxation actions that take place ____________ any deliberate government control and that tend to automatically dampen the business cycle.

without

Example: Personal income tax collections fall during recessions as wages drop and people lose their jobs. Thus, during _____________, government spending automatically ______ and tax collections _____. While if the economy is in full or near full employment, government spending _____ and taxcollections _____ to avoid inflation.

rescession, rise, fall, fall, rise

_______________ are government spending and taxation actions that have been deliberately taken to achieve specified macroeconomic goals

Discretionary Policy

Discretionary fiscal Policy are government spending and taxation actions that have been deliberately taken to achieve specified ____________ goals.

macroeconomic

Example: If the economy is headed to a recession, the government can make a decision to cut taxes to maintain purchasing power.

Discretionary Policy

Fiscal policy components are listed

Taxation, Government Borrowing, Government Spending

The most important generating measure of the government.

Taxation

It has been considered one of the three fundamental powers of the state (the other two are police power and eminent)

Taxation

The state needs __________ to defray its expenses and to promote equitable distribution.

taxation

When the GDP falls, the government's tax receipts __________ even faster as individuals pay ________ income taxes.

declines, lower

Not only is there less income to tax, but the tax rates are ________ as people's incomes _____ .

lower, fall

This problem means that when GDP decreases, personal disposable income (PDI) will _______ and, therefore, consumption spending will help to sustain aggregate demand during _________. This situation is true in times of inflation.

not fall, recession

___________ play a central role in the fiscal' policy of the Philippine government due to the deficiency of its local and national tax collection.

Borrowing

Government borrowings come from _____________ sources such as local commercial banks and the public through bond offering.

international

_________ sources are bilateral and multilateral agreements such as the World Bank, International Monetary Fund, and Asian Development Bank.

External

External sources are __________ and __________ agreements such as the World Bank, International Monetary Fund, and Asian Development Bank.

bilateral, multilateral

External sources are bilateral and multilateral agreements such as the __________, ________________, and _____________.

World Bank, Internationam Monetary Bank, Asian Development Bank

The __________ system is the government fiscal arm producing, allocating, and distributing social goods and services. The social structure of the Philippines is characterized by ________ and ____________.

spending, poverty, inequality

The ____________ of both maladies are the paramount goal of the fiscal program of the government. The country's development goals are taken into account in the expenditure policies which are aligned to the strategies of the development thrust.

reduction

There are three possible stances of fiscal policy stances are :

Neutral, Expansionary, Contractionary

A _______ stance of fiscal policy implies a balanced economy which results in large tax.

neutral

Government spending is fully funded by tax revenue and overall, the budget outcome has a _________ effect on the level of economic activity.

neutral

Neutral. A neutral stance of fiscal policy implies a ___________ economy which results in _________ tax. Government spending is fully funded by tax revenue and overall, the budget outcome has a neutral effect on the level of economic activity.

balanced, large

An __________ stance of fiscal policy involves government spending exceeding tax revenue.

expansionary

A ______________ fiscal policy when government spending is lower than tax revenue.

contractionary

Fiscal policy has traditionally been assigned with three major functions :

Allocation Function, Distribution Function, Stabilization

It is the process by which total resources are divided between private and social goods and by which the mix of social goods and chosen.

Allocation Function

This refers to the adjustment of income and wealth to assure conformance with what society considers as “fairs” and “just” state of distribution.

Distribution Function

This pertains to the used of budget policy to maintain high employment, price level stability, and economic growth,

Stability

Topic 1

Mikyii · 67問 · 1年前

Topic 1