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Economics is the social science that studies the production distribution exchange and consumption of goods and services The study of economics focuses on how individuals corporations and societies choose to use the scarce resources provided by nature and previous generations The two policies in todays economics are none other than the Fiscal and Monetary Policy Although they both deal with economics you could not find any stranger of a pair of opposites than these The reason why is because the Fiscal Policy is defined as changes in government expenditures andor taxes to achieve particular economic goals such as low unemployment stable prices and economic growth On the other hand the Monetary Policy is defined as changes in the money supply or in the rate of change of the supply to achieve particular macroeconomic goals The reason why these two policies couldnt be any more different is because the Fiscal Policy deals with the government while the Monetary Policy deals more with the private businesses and households focusing more on the individual rather than the whole From government spending to government taxes the Fiscal Policy of economics covers it all For example military spending welfare and Medicare are just a few of the many forms of government spending that our country emphasizes on within the Fiscal Policy For my term paper I have chosen to write about the Fiscal Policy Fiscal policy describes two governmental actions by the government The first is taxation By levying taxes the government receives revenue from the populace Taxes come in many varieties and serve different specific purposes but the key concept is that taxation is a transfer of assets from the people to the government The second action is government spending This may take the form of wages to government employees social security benefits smooth roads or fancy weapons When the government spends it transfers assets from itself to the public Since taxation and government spending represent reversed asset flows
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