Cambridge AS & A Level Economics
5.2Fiscal policy
Fiscal policy in Cambridge AS & A Level Economics: what the syllabus expects you to know, the learning objectives and how to practise.
Subtopic42 practice questions2 lessons
Learning objectives
What the syllabus expects you to be able to do.
- 5.2.1Explain the meaning of the government budget.
- 5.2.2Distinguish a budget deficit from a budget surplus.
- 5.2.3Explain the meaning and significance of the national debt.
- 5.2.4Explain taxation: direct and indirect, progressive, regressive and proportional taxes; marginal and average tax rates; reasons for taxation.
- 5.2.5Explain government spending: capital and current, and the reasons for it.
- 5.2.6Distinguish expansionary from contractionary fiscal policy.
- 5.2.7Use AD/AS analysis to show the impact of fiscal policy on national income, real output, the price level and employment.
Lessons
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Fiscal policy: the budget, national debt and expansionary and contractionary policy
55 min
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Taxation: types, rates and reasons
50 min
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Sample question
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