Fiscal Policy Includes

question 10

Multiple Choice

Fiscal policy includes:

• A)tax policy only.
• B)government expenditures only.
• C)tax policy and government expenditures.
• D)tax policy, government expenditures, and monetary policy.

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Definitions:

Total Cost

The complete cost of production that includes both variable and fixed costs.

Economics

The social science that studies how individuals, governments, firms and nations make choices on allocating scarce resources to satisfy their unlimited wants.

Farming

The practice of cultivating crops and raising livestock for food, fiber, biofuel, medicinal plants, and other products used to sustain and enhance human life.

Economic Profit

The gap between an enterprise's total earnings and its combined explicit and implicit outlays.