Explain the Difference Between Discretionary and Automatic Fiscal Policy

question 34

Essay

Explain the difference between discretionary and automatic fiscal policy.Provide examples of each.

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Definitions:

Independent Contractor

An individual in business for themselves who provides goods or services to another entity under terms specified in a contract or within a verbal agreement.

Directly Controlled

Refers to a situation or system where decision-making authority and regulation are centrally managed and not delegated.

Specialized Expertise

Detailed knowledge or skill in a particular field or profession, often requiring advanced education or training.

Pet Sitter Code

A set of guidelines and ethical standards that individuals who take care of pets professionally agree to follow.