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Answer:
Discretionary fiscal policy indicates deliberate action by policy makers.
Explanation:
Automatic stabilizers are stabilizers that adjust the economy automatically without the intervention of external agents . examples include progressive tax and transfer payments
In an expansion, progressive tax increases the tax paid and this reduces disposable income
In a contraction, tax paid is reduced and this increases disposable income
Discretionary fiscal policies are deliberate steps taken by the government to stimulate the economy in order to cause the economy to move to full employment and price stability more quickly than it might otherwise.
Discretionary fiscal policies can either be expansionary or contractionary
Expansionary fiscal policy is when the government increases the money supply in the economy either by increasing spending or cutting taxes.
Contractionary fiscal policies is when the government reduces the money supply in the economy either by reducing spending or increasing taxes
Answer:
b. Both the equilibrium wage and quantity decrease.
Explanation:
When a market is in equilibrium, quantity supplied equals quantity demanded.
When swimming pools adopt labour saving technology, the quantity of labour demanded falls. This leads to a decrease in equilibrium wage and quantity . When supply exceeds demand, wages fall and labour would leave the lifeguard industry due to decreased demand.
Check out the attached image for a graphical explanation
I hope my answer helps you.
