short answer

a)Who is responsible for conducting fiscal policy in Canada? (1 mark)

b)What is the objective of fiscal policy? (1 mark)

c)Suppose the country was in the recessionary phase of the business cycle.What do you expect to be seeing with respect to the unemployment rate? (1 mark)

d)Describe two (2) limitations of fiscal policy? (2 marks)

e)Outline the differences between automatic fiscal policy and discretionary fiscal policy?

(2 Marks)

f)What fiscal policies tools will be used if the economy is experiencing a recession? Explain in detail what impact these actions will have on the economy. (3 marks)