17.1 The Evolution of Fiscal Policy
Identify the economy's potential output
Distinguish between fiscal policy before and after the Great Depression
17.2 Fiscal Policy Reconsidered
What is the difference between Fiscal and Monetary Policy
Identify two tools of fiscal policy
Evaluate discretionary Fiscal policy in light of the time lags involved
Explain how fiscal policy was used during the Great Depression
17.3 Federal Deficits and Federal Debt
Taxes Graphed- Who takes on the burden
Discuss why federal budget deficits have been common since the Great Depression
Distinguish between crowding out and Crowding in
Discuss changes in the relative size of the federal debt since World War 2
Evaluate whether deficits are sustainable and understand how serious a debt default would be