Fiscal Policy and Budget Outcomes (HSC SSCE Economics): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What formula represents a budget surplus?
What formula represents a budget surplus?
What economic effect does a budget deficit have?
What economic effect does a budget deficit have?
Injects funds, expansionary position
Which measure is the government's preferred budget outcome indicator?
Which measure is the government's preferred budget outcome indicator?
Underlying cash balance
Why is net operating balance best for measuring budget sustainability?
Why is net operating balance best for measuring budget sustainability?
Distinguishes capital/recurrent spending
What is the key feature of accrual accounting?
What is the key feature of accrual accounting?
Records when incurred/earned
What are discretionary changes to the budget?
What are discretionary changes to the budget?
Deliberate government policy decisions
How do unemployment benefits act as an automatic stabiliser in a recession?
How do unemployment benefits act as an automatic stabiliser in a recession?
Unemployment rises, benefits increase
How does progressive tax stabilise the economy during a boom?
How does progressive tax stabilise the economy during a boom?
Workers move to higher tax brackets
What characterises an expansionary budget stance?
What characterises an expansionary budget stance?
Smaller surplus or larger deficit
What determines if the budget stance is expansionary?
What determines if the budget stance is expansionary?
Change in budget position