Fiscal Policy Fundamentals
This worksheet covers fundamental concepts of fiscal policy, including its tools, objectives, and impact on the economy for Grade 10 Social Studies.
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Fiscal Policy Fundamentals
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Read each question carefully and answer to the best of your ability. For multiple-choice questions, circle the letter next to the correct answer. For fill-in-the-blank and short-answer questions, write your responses in the space provided.
1. Which of the following is a primary tool of fiscal policy?
Interest rates
Government spending
Money supply
Exchange rates
2. What is the main objective of expansionary fiscal policy?
To slow down economic growth
To reduce inflation
To stimulate economic growth
To decrease government debt
3. Fiscal policy is the use of government spending and to influence the economy.
4. When the government spends more than it collects in taxes, it creates a budget .
5. A decrease in taxes is an example of fiscal policy.
6. Contractionary fiscal policy aims to reduce inflation.
True
False
7. Increased government spending is a tool of contractionary fiscal policy.
True
False
8. Briefly explain the difference between fiscal policy and monetary policy.
9. Describe one potential positive and one potential negative effect of an expansionary fiscal policy.
Match each term on the left with its definition on the right.
10. Progressive Tax
a. Government spending exceeding tax revenue
11. Budget Deficit
b. Tax rate increases as income increases
12. National Debt
c. Total accumulated government borrowing
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