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Fiscal Policy
We've studied the business cycle and know that our economy has its ups and downs. It's great when it's headed up...
But we tend to trend back to equilibrium...
And sometimes we go past it and just lose.
That's where our government intervenes and tries to help us out. The two tools are fiscal and monetary policy. To start we'll focus on Congress' tool: fiscal policy.
The Fiscal Ship
Fiscal policy refers to actions taken by the Legislature regarding spending and revenue, or taxes. Put simply, this is the beginning of how the government pays for all of its programs and collects the revenue to do so. While the government does have other tools at its disposal, it all starts from here. And much like us, it has to find a way to pay for everything it wants. Head to the Fiscal Ship game to see if you can get the United States the programs you think it needs and deal with the debt that we are in. Post an image of your plan details to the Fiscal Ship activity on Google Classroom.
Monetary Policy
While she’s not in charge of Monetary Policy in the United States anymore, Janet Yellen is still worth knowing about and this song is a great place to start.
We just learned about how Congress controls the economy. Today, we'll take a look at how the Federal Reserve does it. Your homework
Please complete the Macroeconomics Review Sheet for our next class on Tuesday.
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January 2024
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