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"Discretionary Fiscal Policy Is a Fiscal Action Initiated by an Act

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Essay

"Discretionary fiscal policy is a fiscal action initiated by an act of the Federal Reserve,while automatic fiscal policy is a fiscal action induced by the state of the economy." Is the previous statement correct or incorrect? Explain your answer.


Definitions:

Marginal Revenue

The additional revenue that is gained from selling one more unit of a good or service.

Marginal Revenue

The additional income earned from the sale of one more unit of a product or service.

Cheese

A dairy product derived from milk that is produced in a wide range of flavors, textures, and forms by coagulating the milk protein casein.

Monopolist

An entity with exclusive control over the supply of a particular good or service, giving it the power to control prices and exclude competition.

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