Mid-continent Research for Education and Learning
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Topic: U.S. fiscal policy
Economics
Standard 8.
Understands basic concepts of United States fiscal policy and monetary policy
Level IV (Grade 9-12)
Benchmark 1.
Knows that fiscal policy involves the use of national government spending and taxation programs to affect the level of economic activity in order to promote price stability, maximum employment, and reasonable economic growth
Knowledge/skill statements
1.
Knows that fiscal policy involves national government spending
2.
Knows that fiscal policy involves taxation programs
3.
Knows how national government spending and taxation programs affect the level of economic activity
4.
Knows that fiscal policy is used to promote price stability
5.
Knows that fiscal policy is used to promote maximum employment
6.
Knows that fiscal policy is used to promote reasonable economic growth
Benchmark 6.
Understands that fiscal policies take time to affect the economy and that they may be reinforced or offset by monetary policies and changes in private investment spending by businesses and individuals
Knowledge/skill statements
1.
Understands that fiscal policies affect the economy over time
2.
Understands that fiscal policies may be reinforced or offset by monetary policies
3.
Understands that fiscal policies may be reinforced or offset by changes in private investment spending by businesses and individuals
