Fiscal policy generally has a _______ direct impact than monetary policy on the economy, and the formulation and implementation of fiscal policy is ______ than that of monetary policy.
A. more; quicker
B. -more; slower
C. less; quicker
D. less; slower
E. Cannot tell from the information given
B. -more; slower
Fiscal policy has a more direct impact on the economy than does monetary policy. However, the formulation and implementation of fiscal policy is much slower than monetary policy. Monetary policy is determined by the Federal Reserve System. Fiscal policy must be deliberated, passed, and implemented by both the executive and legislative branches of the federal government.
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