Answer: a) -A tax cut
-Additional spending on national park facilities
b) Expansionary fiscal policy
Explanation:
Fiscal Policy refers to how the government of a country is using it's spending and taxes to influence Economic conditions on a Macro level.
The keywords for this question are TAXES and SPENDING.
The means that a Discretionary FISCAL policy includes Taxes and Spending.
Now the way to close the Recessionary gap that is opening is to put more money into the Economy. The Government can do this by REDUCING TAXES which will means people have more money to spend and ADDITIONAL SPENDING on NATIONAL PARK FACILITIES as this means that the government is pumping more money into the Economy.
The discretionary fiscal policy needed to bring the economy closer to potential output is an example of an EXPANSIONARY FISCAL POLICY.
This is where the Government aims to put more money into the economy so that growth can be acheived and they do this by lowering taxes and increasing spending either singularly or simultaneously.
Answer:
The correct answer is: a virtual corporation.
Explanation:
Virtual corporations are becoming more common with the massification of the internet and communications. They are generally companies that are dedicated to the commercialization of products and generate a massive movement in the network that allows them to be in the "voice to voice" of people. They do not have physical facilities, which saves them expenses such as leasing and public services, and the contracted staff is minimal. These companies are based on the strategy of fast and massive shipments through transport companies in order to satisfy the needs of their clients.
Whenever there is maximization of total surplus that is been received by those that are part of society by market allocation of resources then there is market Efficiency.
- Economic efficiency can be regarded as economic state whereby there is allocation of resource to serve each individual or entity in way that everyone is satisfied while minimizing waste and inefficiency.
Therefore, When there is an economy efficiency, there would be maximization of total surplus.
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State Capitalism or a Centrally Planned Economy