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Word Count: 212
Fiscal Policy Simulation The simulation is assigned to familiarize one with the tools of fiscal policy that government uses to keep economy moving ahead The simulation covers fiscal policy the impact of a change in government spending or taxation on the real Gross Domestic Product GDP and aggregate income of the economy The Effects of the Changes The effects of the changes vary Since the multiplier and level of income are given in this simulation one can see how government spending can change answers and taxation The fiscal pollicies tools are used to bring the economy back on track Also changes in popularity can happen when changes are made that do not satisfy the popular opinion Four Key Points The usage of multiplier model permanent income hypothesis balanced budget theorem and crowding out effect was all detailed in this simulation Apply simulation to real world As state and local governments expand efforts to promote economic development A more successful approach to economic growth may involve raising taxes in order to better provide essential public services such as schools education and health care The simulation shows how the economy is better when more money is spent to educate and provide jobs for the locals Growing Further results for the assessment Print outs attached
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