Question

The first of two significant fiscal policy initiatives enacted by the government during the great recession, signed in february 2008 by president george w. bush, was the?

Answer 1

The first of two significant fiscal policy initiatives enacted by the government during the great recession, signed in February 2008 by President George w. bush was the Economic Stimulus Act of 2008.

During recessions, governments can adopt expansionary fiscal policies by lowering tax rates to boost aggregate demand and boost economic growth. In the face of rising inflation or other signs of economic expansion, governments can pursue contractionary fiscal policies.

Governments can use fiscal policy (increased government spending and tax cuts) to stimulate the economy during recessions. A fiscal multiplier is an estimate of the increase in output caused by a particular increase in government spending or tax cuts.

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