Fiscal policy is the use of government spending and taxation to influence the economy. To try to encourage economic activity, the government might lower taxes, so people take more money home in each paycheck and have more money to spend. Or the government might increase its own spending, by hiring unemployed workers to build valuable projects like roads and schools.
- The KWHS Essay Contest: Social Responsibility in the Corporate World The four winners of the Knowledge@Wharton High School Essay Contest “Socially Responsible Business” category discovered companies both large and small that are finding ways to help society and the environment. Their essays take readers from the farmlands of India to the Adirondack Mountains of the United States, demonstrating that social responsibility is a global commitment.
- GDP: The Rock Star of Economic IndicatorsWord out of Washington, D.C., this week is that GDP is on the rise. What does that mean for the economy and your financial and job prospects? High school economics whiz Robin Li and others demystify the significance of Gross Domestic Product.
- Are We Sinking into an Economic Recession?