Question
Download Solution PDFThe Fiscal policy achieves the macroeconomic goals by using which of the following instruments?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is Taxes.
Key Points
- Fiscal policy:-
- It refers to the government's use of taxation and spending to influence the economy.
- The use of taxes as an instrument of fiscal policy can help to either stimulate or cool down the economy, depending on the government's goals.
- Other instruments of fiscal policy include government spending, transfer payments, and subsidies.
Additional Information
- SLR:-
- It refers to the percentage of deposits that banks must maintain in the form of liquid assets such as cash, gold, or government securities.
- CRR:-
- It refers specifically to the amount of cash that banks must keep in reserve.
- Bank rate:-
- It is the interest rate at which the central bank lends to commercial banks.
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