21.What is the term for the government policy that governs revenue and expenditure? A. Monetaory Policy B. Credit Control Policy C. Fiscal Policy D. CRR
Question
21.What is the term for the government policy that governs revenue and expenditure? A. Monetaory Policy B. Credit Control Policy C. Fiscal Policy D. CRR
Solution
The term for the government policy that governs revenue and expenditure is C. Fiscal Policy. This policy involves the use of government revenue collection (taxation) and expenditure (spending) to influence a country's economy. The use of government revenues and expenditures to influence macroeconomic variables developed as a result of the Great Depression, when the previous laissez-faire approach to economic management became unpopular.
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