Question 8 Read the text and answer the question. In 2017, Congress passed the Tax Cuts and Jobs Act. The law reduced income tax rates and increased standard deductions.

What was the Tax Cuts and Jobs Act an example of?

A contractionary fiscal policy

B expansionary fiscal policy O

С contractionary monetary policy

D expansionary monetary policy

Question

02-12-2021
Business

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Question 8 Read the text and answer the question. In 2017, Congress passed the Tax Cuts and Jobs Act. The law reduced income tax rates and increased standard deductions.

What was the Tax Cuts and Jobs Act an example of?

A contractionary fiscal policy

B expansionary fiscal policy O

С contractionary monetary policy

D expansionary monetary policy

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Tundexi Tundexi · Answer 1 · 2021-12-16T11:32:24+01:00

Tax Cuts and Jobs Act is an example of Expansionary fiscal policy because it is a policy of tax cuts and increased government spending on various projects.

Basically, the Tax Cuts & Jobs Act which was enacted under President Donald Trump changed the rate of deductions, depreciation, tax credits and things that affect businesses owners.

The Tax Cuts & Jobs Act also provide that a tax credit to provided to employers that paid family and medical leave to its employees

Therefore, the Option B is correct because the Expansionary fiscal policy includes policy of tax cuts and increased government spending on various projects.

Read more about Expansionary fiscal policy

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