Describe why federal government’s budget depends on three factors: the rate of taxation, the size of GDP, and its own expending levels.

You can write maximum three pages for these questions. 12 pt. Time New Roman preferred. Please write them in your own words.
Fiscal Policy:
1. Describe why federal government’s budget depends on three factors: the rate of taxation, the size of GDP, and its own expending levels.
2. Explain the pros and cons of a budget policy aimed at achieving a balance budget in each fiscal year.
3. Explain the pros and cons of a budget policy aimed at achieving both full employment and a balance budget over the life of business cycle.

Do it in your group and submit one file on behalf of your group

Do it in your group and submit one file on behalf of your group. If are not with a group, then submit it individually.

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