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Expansionary fiscal policies expand aggregate demand (AD) by increasing government spending and/or decreasing income and corporate taxation. As a result, a recessionary (a.k.a. deflationary) gap, which is...
Indirect taxation are taxes on expenditure and consumption. These are usually placed on demerit goods which are goods or services which are perceived to have a negative impact on society. A real world exa...
Aggregate Supply is the total amount of real output produced in an economy in a given year. The Short Run Aggregate Supply (SRAS) curve looks as aggregate supply in the short run: the time period w...
In the general demand function Qd=a-bP, b is the slope. Therefore 30 is the slope of this demand function.When Qd=60 price is calculated by:60= 40-30P30P=420-6030P=360P=12
Fiscal policy is the manipulation of government spending and taxation levels by the governing body of a nation to influence aggregate demand. Expansionary fiscal policy refers to the increase in governmen...
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