Ch 21: Georgia Milestones: Fiscal & Monetary Policies

About This Chapter

Get ready to review fiscal and monetary policies with this chapter. You can use this information to prepare for the Georgia Milestones Economics/ Business/ Free Enterprise EOC exam.

Georgia Milestones: Fiscal & Monetary Policies - Chapter Summary

You will find questions about fiscal and monetary policies on the Georgia Milestones Economics/ Business/ Free Enterprise EOC exam. This chapter will help you get ready to successfully answer these questions by allowing you to review:

  • The Keynesian revolution and Keynes' theory
  • How the government manages the economy and fiscal policy tools
  • Automatic economic stabilizers
  • Ways that timing is important for fiscal and monetary policies
  • Supply-side economics

Our engaging video lessons were designed by economics experts. You can test your understanding of these concepts with our self-assessment quizzes. These quizzes link back to the lessons, if you discover you need more practice with certain economic subjects.

7 Lessons in Chapter 21: Georgia Milestones: Fiscal & Monetary Policies
Test your knowledge with a 30-question chapter practice test
Fiscal Policy: The Keynesian Revolution

1. Fiscal Policy: The Keynesian Revolution

In this lesson, you'll learn how the government uses stabilization policy to smooth out the ups and downs of the business cycles. In stark opposition to the Classical approach, this Keynesian approach favors taking immediate action to stabilize a troubled economy.

Fiscal Policy Tools: Government Spending and Taxes

2. Fiscal Policy Tools: Government Spending and Taxes

Discover the three main tools the government uses to address recessionary and inflationary economies - what economists call fiscal policy. Find out how these tools are used to help the economy in different situations.

Automatic Stabilizers in Economics: Definition & Examples

3. Automatic Stabilizers in Economics: Definition & Examples

Watch this lesson to learn about the features that are built into the tax code and the government's budget that help offset declines in aggregate demand during recessions. Referred to as automatic stabilizers, they also address the needs of individuals facing hard times.

The Importance of Timing in Fiscal and Monetary Policy Decisions

4. The Importance of Timing in Fiscal and Monetary Policy Decisions

In this lesson, discover four different types of policy lags that occur when fiscal and monetary authorities take action in attempt to influence economic output. Find out which policy has less of a time lag.

Supply-Side Economics in Fiscal and Monetary Policy

5. Supply-Side Economics in Fiscal and Monetary Policy

This lesson explains what supply-side economics is, where it started, and how economists illustrate it. It provides a basic overview of the still-controversial theory that was popularized by President Ronald Reagan during the 1980s.

Managing the Economy with Fiscal and Monetary Policies

6. Managing the Economy with Fiscal and Monetary Policies

Learn what fiscal and monetary policy are and how they are used to manage the economy. Find out the goals of these policies and some of the tools that each use to help you find a job and influence the amount of money in your pocket.

Short-Term GDP and National Debt: Keynes' Theory

7. Short-Term GDP and National Debt: Keynes' Theory

Discover the tension fiscal authorities face between the two equally rewarding goals of reducing the national debt and maintaining a growing economy in the short term. This lesson explains the tension from the Keynesian point of view.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
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Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
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