Question

Explain 3 factors that influence fiscal policy
Explain 3 factors that influence balance of payment

Answer 1

Answer:

The four main components of fiscal policy are (i) expenditure, budget reform (ii) revenue (particularly tax revenue) mobilization, (iii) deficit containment/ financing and (iv) determining fiscal transfers from higher to lower levels of government.

These factors—growth rates, relative prices, and rates of return—all drive national saving and investment decisions. Those decisions most directly determine the balance of payments.

Explanation:

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Answer 2

Answer:

Fiscal policy is enacted by a government. This is opposed to monetary policy, which is enacted through central banks or another monetary authority. In the United States, fiscal policy is directed by both the executive and legislative branches. In the executive branch, the two most influential offices in this regard belong to the President and the Secretary of the Treasury, although contemporary presidents often rely on a council of economic advisers as well. In the legislative branch, the U.S. Congress authorizes taxes, passes laws, and appropriations spending for any fiscal policy measures through its "power of the purse". This process involves participation, deliberation, and approval from both the House of Representatives and the Senate.

Explanation:

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