Prior to beginning work on this discussion,
- Read Chapters 9, 11 and 12 of Macroeconomics: Private and Public Choice.
There are two parts to this discussion.
Part 1
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.
Part 2
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.
Note: when possible, select a different example than those already posted by a fellow classmate.
Your initial response should be a minimum of 200 words. Graduate school students learn to assess the perspectives of several scholars. Support your response with at least two scholarly and/or credible resources in addition to the text.