The Concept of Fiscal Policy Refers to The

question 89

Multiple Choice

The concept of fiscal policy refers to the:

• A)running of a deficit or surplus to affect the level of output in the economy.
• B)changing of interest rates to affect the level of output in the economy.
• C)management of exchange rates to affect the trade deficit in the economy.
• D)setting of wage policies by institutions to affect spending in the economy.

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Definitions:

Tort Liability

Legal responsibility arising from a civil wrong or injury for which a court remedies in the form of damages.

Civil Liability

involves a legal obligation that arises in civil lawsuits as opposed to criminal proceedings, where an individual is held responsible for damages or injuries caused to another party.

Tort of Nuisance

A legal action for damages caused by a person's unreasonable use of their property, which interferes with others' rights to enjoy their property.

Trespassory Invasion

An unauthorized entry onto the property of another person, resulting in an infringement of that person's right to exclusive possession.