The efforts of government to regulate and support the economy in order to protect and expand citizens' financial well-being and economic prospects, as well as supporting businesses in the global financial system, is best defined as ______ policy.

Question

Quizplus · Accepted Answer

The definition given in the question matches the definition of economic policy, which involves government actions that affect economic activities such as production, consumption, savings, and investments. Fiscal policy refers to the specific use of government spending and taxation to influence the economy, and while social welfare programs may be a part of economic policy, they do not encompass the full range of actions taken to support the economy. Domestic policy is a broader category that includes economic policy but also covers issues such as education, healthcare, and environmental regulations. Therefore, the best choice is B.

The Efforts of Government to Regulate and Support the Economy