Briefly explain whether each of the following is (1) an example of a discretionary fiscal policy, (2) an example of an automatic stabilizer, or (3) not an example of fiscal policy.
a. The federal government increases spending on rebuilding the New Jersey shore following a hurricane.
b. The Federal Reserve sells Treasury securities.
c. The total amount the federal government spends on unemployment insurance decreases during an expansion.
d. The revenue the federal government collects from the individual income tax declines during a recession.
e. The federal government changes the required fuel efficiency for new cars.
f. Congress and the president enact a temporary cut in payroll taxes.
g. During a recession, California voters approve additional spending on a statewide high-speed rail system.