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4.05 Uncle Sam's Toolbox

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Jacob Benvenutty

on 19 October 2015

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Transcript of 4.05 Uncle Sam's Toolbox

04.05 Uncle Sam's Toolbox
Scenario #1
4. This is a budget surplus because although the government is spending money, it is bringing in more money through taxation than it is spending.
Scenario #2
7. This would create a budget deficit because the government is spending more money than what is being earned.
Scenario #3
11. I would make a decrease in taxes and increase the government spending.
1. Fiscal policy has to deal with government earning and spending money. The tools that the government uses are taxing and spending. The goals of fiscal policy is to make businesses produce more by creating demands in the economy.
2. The difference between fiscal and monetary policy is that fiscal policy is controlled by the president and Congress and they deal with taxes and government spending. On the other hand, monetary policy is focused more on buying/selling government securities to control money supply.
3. I would agree that the government should create a law mandating a balanced federal budget as it would prevent us from going into debt.
The government is currently spending three billion, one hundred million on programs and brings in three billion, five hundred million through taxation.
5. As a member of congress, I think it would make an increase on taxes. I also would decrease the amount the government spends overall.
6. The government would benefit by making more money through taxation, but would also bring about problems for economic growth as people would have to pay more, prices would vary and unemployment would increase.
The government is currently spending three billion, seven hundred million on programs and brings in two billion, nine hundred million through taxation. In addition, the nation has experienced a period of rising unemployment.
8. As a member of congress, I would have to say the best way to fix this issue would be to also decrease the spending and if needed increase the taxes to gain more money.
9. Again, the benefit would be the government would be making more money through taxation, but the downside is that it also would cause problems for economic growth.
The nation is currently experiencing a period of rising prices. Inflation is making consumer goods increasingly difficult to afford as wages have remained constant.
10. I believe this line of thinking may interfere with some efforts to decrease unemployment.
12. The impacts my decision would have on the
economy is that the economy would grow better, and prices would become more reasonable. Unemployment would either decrease or remain the same as this plan would allow people to keep their jobs and maintain an affordable lifestyle.
13. My proposed policy would be expansionary because it cause a growth in the economy.
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