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Copy of Fiscal Policy of the Philippines
Transcript of Copy of Fiscal Policy of the Philippines
Late Economist at Harvard
What is a Fiscal Policy? Expansionary and Contractionary Fiscal Policy Expansionary fiscal policy is designed to stimulate the economy during or anticipation of a business-cycle contraction. This is accomplished by increasing aggregate expenditures and aggregate demand through an increase in government spending (both government purchases and transfer payments) or a decrease in taxes. Expansionary fiscal policy leads to a larger government budget deficit or a smaller budget surplus. THANK YOU !!!!! Objectives of Fiscal Policy
1. To achieve desirable price level
2. To Achieve desirable consumption level
3. To Achieve desirable employment level
4. To achieve desirable income distribution
5. Increase in capital formation
6. Degree of inflation: Instruments of Fiscal Policy
PUBLIC DEBT INCOME
it refers to income or receipts from public
NON - TAX REVENUE
TWO MAJOR TYPES TAX REVENUE
Value Added Tax
Price of public goods & services
Development of Public Enterprise
Development of Infrastructure
Non - Development Expenditure
termed as non development expenditures PUBLIC DEBT Everyone borrows when we spend more money than we have. Expenditure - National income = Deficit Deficit1 + Deficit2 + Deficit3 +......= Public debtThis Public debtcan bedrawninternally or externally Everyone borrows when we spend more money than we have.
Expenditure - National income = Deficit Deficit1 + Deficit2 + Deficit3 +......= Public debt
This Public debt can be drawn internally or externally PUBLIC DEBT