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What is Major Fiscal Functions Explained about?

The document outlines three major fiscal functions of government: 1. Allocation function - the government provides public goods and services that the private market fails to, like national defense and public parks. 2. Distribution function - the government uses taxes and spending to redistribute income and promote equity through programs for social security, poverty reduction, etc. 3. Stabilization function - the government designs fiscal policy to smooth out economic fluctuations and maintain full emp

Author

kevinchettiar2

Language

EN