Module 20 - Demand-side macroeconomic policy Flashcards
Fiscal policy
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Budget deficit, budget surplus and fiscal stance
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Current and capital expenditure
.
Final expenditure and transfers
.
Public sector net borrowing (PSNB)
.
Public sector net cash requirement (PSNCR)
.
Structural deficit or surplus
.
Current budget position
.
Discretionary fiscal policy
.
Fine-tuning policy
.
Pure fiscal expansion
.
Crowding out
.
Current budget balance
.
Distinguish between automatic fiscal stabilisers and discretionary fiscal policy
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Explain how fiscal policy can be used to manage aggregate demand
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Outline the practical problems of using fiscal policy
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Explain the long-term problems of persistent budget deficits
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Give examples of fiscal rules
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Discuss the ways in which fiscal policy in the UK has changed (the fiscal policy yo-yo) in the period 2008-2015
.
Monetary policy
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Minimum reserve ratio
.
Financial crowding out
.
Funding
.
Liquidity map
.