econ101fall11lecture10

econ101fall11lecture10 - The Government, Fiscal Policy, and...

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The Government, Fiscal Policy, and the Economy Required Reading • Chapter 11, including Appendices A & B
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Basic Question • Fiscal Policy: The effect of Government activities on the economy • How does Fiscal Policy affect the economy?
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Associated Questions • Effectiveness of Fiscal Policy? • Strengths & Weaknesses of Fiscal Policy? • Effectiveness in the Short-run vs. the Long-run?
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What is Fiscal Policy? • “Government” includes both Federal and State and Local Government activity • Government economic activities: Purchases goods and services Imposes and collects taxes Makes transfer payments
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Purchases of Goods & Services • Defense Spending • Infra-Structure Spending • Health Care • Education • Government Offices
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Taxes • Income Taxes • Sales Taxes • Property Taxes • Social Insurance Taxes
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Transfer Payments • Social Security • Welfare Payments • Unemployment Insurance
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Government Spending in the US 2007
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Sources of Revenue in the US 2007
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The Allocation of Government Spending 2009
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Government Spending & Tax Revenue 2006 Selected Countries
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This note was uploaded on 01/12/2012 for the course ECON AS.180.101 taught by Professor Maccini during the Fall '08 term at Johns Hopkins.

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econ101fall11lecture10 - The Government, Fiscal Policy, and...

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