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A government budget is essentially a plan for taxing and spending
. By levying taxes, the government takes in revenue from the populace. Government spending has many forms, including wages paid to government employees, social security payments, road repair costs, and money paid to contractors who build submarines. Fiscal policy is the use of tax and spending practices to influence the macroeconomy, while monetary policy influences the macroeconomy by increasing or decreasing the freedom with which money flows through the economy. In this guide, we will explore both.Economic Policy is the sixth of eight SparkNotes Economics guides. It covers the following topics:
- Fiscal Policy
- Monetary Policy
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