Reference book: Gwartney, J. A., Stroup, R. L., Sobel, R. L., & Macpherson, D. A. (2018). Macroeconomics: Private and public choice (16th ed.). Retrieved from https://www.cengage.com
- Read Chapters 9, 11 and 12 of Macroeconomics: Private and Public Choice.
There are two parts to this discussion.
In your own words define and explain fiscal policy. List the pros and cons for the fiscal policy you selected. Include supply-side economics in your explanation. As you think through your answer, remember the government may exercise expansionary or restrictive fiscal policy.
Research one specific real-life example of a fiscal policy and explain its overall impact on the economy. In your example, discuss any political influences.
Your initial response should be a minimum of 200 words. Support your response with at least two scholarly and/or credible resources in addition to the text.