fiscal policy

Description

how contractionary and expansionary fiscal policy is used to help the economy
Ella Kuwornu
Mind Map by Ella Kuwornu, updated more than 1 year ago
Ella Kuwornu
Created by Ella Kuwornu over 5 years ago
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Resource summary

fiscal policy
  1. fiscal policy is the use of taxation and government spending to influence the level of economic growth
    1. goverment spending
      1. pensions :the government pays out to those over the retirement age if they have contributed to NI
        1. healthcare(18% of spending)
          1. welfare (14% of spending) includes protecting society and spending on family and children e.g child benefit,unemployment and housing benefit
            1. education(11% of spending)
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