QUESTION 1 (25 MARKS) THE 2021 FEDERAL GOVERNMENT BUDGET Source: Adapted from Fiscal Outlook 2021 A federal government b

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QUESTION 1 (25 MARKS) THE 2021 FEDERAL GOVERNMENT BUDGET Source: Adapted from Fiscal Outlook 2021 A federal government b

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QUESTION 1 (25 MARKS)
THE 2021 FEDERAL GOVERNMENT BUDGET
Source: Adapted from Fiscal Outlook 2021
A federal government budget is an itemized estimated
financial statement presenting the government’s proposed revenues
and spending for a financial year.
Summarize your understanding from the diagram above.

(15 marks)
There are three types of budget policies which are
influenced by the decision of fiscal policy
options.
Elaborate these polices with relevant examples.
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