Question

How did the government help the economy? the economy of country y has experienced increased unemployment and reduced gdp for six months. the government therefore decides to implement fiscal policy that increases and reduces .

Answer 1

Government fiscal policy measures would lower tax rates and expand the money supply.

What is the economy?

• An economy is a region where products and services are produced, distributed, traded, and consumed.
• It is generally understood to be a social domain that emphasizes the behaviors, discourses, and tangible manifestations connected to the creation, utilization, and management of finite resources.
• One's culture, values, education, technological advancement, history, social organization, political structure, legal system, and natural resources are all major determinants of an economy's processes.
• These elements determine the parameters and conditions under which an economy operates in addition to providing background and content.
• In other words, the economic realm is a social domain made up of connected human behaviors and exchanges that cannot exist independently.

What do you mean by the government?

• An organized community is governed by a system or group of individuals, typically a state.
• Government often consists of the legislative, executive, and judicial branches in the case of its broad associative definition.
• Government is a tool for making policy decisions as well as a way to enforce organizational policies.
• A declaration of the government's guiding principles and philosophy is the equivalent of a form of constitution in many nations.

Learn more about the economy here:

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