How might timing play role in theory of political business

Reference no: EM131004163

1. (C a s e S tudy: Discretionary Fiscal Policy and Presi- dential Elections) Suppose that fiscal policy changes output faster than it changes the price level. How might such timing play a role in the theory of political business cycles?

2. (Balancing the Federal Budget) Once the huge federal bud- get deficits of the 1980s and the first half of the 1990s turned into budget surpluses, why were policy makers more willing to consider discretionary fiscal policy?

Reference no: EM131004163

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