What is the impact of fiscal policy on the economy?
An example of an AI chatbot conversation about fiscal policy's effects on economic growth.
What is the impact of fiscal policy on the economy?
Fiscal policy involves government spending and taxation decisions that influence economic activity. It can stimulate growth or control inflation.
Can you give an example of how fiscal policy can stimulate the economy?
Sure! For instance, during a recession, a government might increase spending on infrastructure projects, creating jobs and boosting demand.
What are the potential downsides of using fiscal policy?
Potential downsides include increased national debt, inflation if too much money is injected, and possible crowding out of private investment.
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.
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