What is fiscal policy and how does it work?
An example of an AI chatbot conversation about fiscal policy and its impact on the economy.
What is fiscal policy and how does it work?
Fiscal policy refers to the government's use of spending and taxation to influence the economy. It aims to manage economic fluctuations.
Can you give me an example of fiscal policy in action?
Sure! For instance, during a recession, a government might increase spending on infrastructure projects to create jobs and stimulate growth.
How does fiscal policy differ from monetary policy?
Fiscal policy is about government spending and taxes, while monetary policy involves controlling the money supply and interest rates, usually managed by a central bank.
What are the potential downsides of fiscal policy?
Potential downsides include increased national debt, inflation if too much money is injected into the economy, and possible inefficiencies in government spending.
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