Fiscal policy

Q12(a) Define corporation tax, as the term appears in the extract on Ireland's 12.5% rate.

Q5 Identify which instrument belongs to fiscal policy (quantitative easing / taxation / lending criteria / liquidity rules).

Q7(b) Explain what deflationary fiscal policy means, as required of Greece by its rescue lenders.

Q4(b) Using the trade cycle graph, distinguish automatic stabilisers from discretionary fiscal policy.

Q6(f) Evaluate the fiscal measures open to ministers should Britain face another recession, as Extract A suggests.

Q5 Italy spent EUR945.6 billion and received EUR789.3 billion in tax revenue in 2020. Identify the policy that could achieve a balanced budget the following year. (deflationary or reflationary monetary or fiscal policy)

Q2(e) Evaluate, at both micro and macro level, what a far looser fiscal stance (Extract C) would mean for Germany's economy.

Q13 Evaluate how far fiscal instruments can raise growth (context: in 2019 the ECB President urged eurozone governments towards tax cuts and higher spending).

Q6 Reading a chart of quarterly government budget balances from 2013 to 2018, choose the correct statement about when deficits and surpluses occurred.

Q12(a) State the meaning of 'fiscal policy' as Extract A uses it.

Q12(c) Analyse a single macroeconomic consequence of cutting indirect tax, drawing on Extract A.

Q4(c) Aiming deliberately for a budget surplus counts as which type of policy? (tight monetary / discretionary fiscal / loose fiscal / loose monetary)