Fiscal policy and monetary policy are two tools used by the federal government to influence the United States economy. The executive and legislative branches share the responsibility of setting fiscal policy. The Federal Reserve Board has the primary role of setting monetary policy.
(a) Define fiscal policy.
(b) Describe one significant way the executive branch influences fiscal policy.
(c) Describe one significant way the legislative branch influences fiscal policy.
(d) Define monetary policy.
(e) Explain two reasons why the Federal Reserve Board is given independence in establishing monetary policy.
You have 25 minutes to answer all parts of this question. Your response will be counted as a quiz grade. Any talking or sharing of answers will result in a zero.
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