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Fiscal policy refers to the measures employed by governments to stabilize the economy, specifically by manipulating the levels and allocation of taxes and government expenditures. Fiscal policy relates to the decisions which determine whether a government will spend more or less than it receives.
Fiscal policies are influenced by the executive and legislative branch of a country.
Explanation:
One of the ways the executive branch influences fiscal policy is that the President and the Secretary of the Treasury directs the fiscal policies of the United States. Since the fiscal policy is tied into each year's federal budgets, the President proposed this budgets to be approved by the Congress.
One of the ways the Legislative branch influence fiscal policy is that the approve the Federal budget proposed by the President. In United States, Congress passes laws and appropriates spending for any fiscal policy measures. This process involves participation, deliberation and approval from both the House of Representatives and the Senate.
Monetary policy refers to the policy undertaken by the monetary authority of a country to control money supply in order to achieve macroeconomics goals which in turn promote sustainable economic growth. Monetary policy reduces liquidity to prevent inflation.
Reasons why the Federal Reserve Board is given independence in establishing monetary policy are
1. They are free from short term legislative/executive pressures. Without the degree of autonomy, the Federal Reserve Board could be influenced by election focused politicians into enacting an excessively expansionary monetary policy to lower unemployment in the short term. Tho could lead high inflation.
2. They Federal Reserve Board runs a technocrat appointment rather than a political appointment. The monetary decision of the Federal Reserve Board is not ractified by the President. They receive no funding by the Congress and members of the Board of governors who are appointed, serve 14-year term. This terms do not coincide with presidential terms, thus making them further independence.
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Question
Explanation:
Using a question will hep you reiterate the information while gathering about how well the audience is paying attention.
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producers need to know that consumers want so they can sell more and make more profit
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