Question

Which economist defined fiscal policy as "the policy concerning the revenue, expenditure and debt of the government for achieving definite objectives"?

Options

• Otto Eckstein

• Prof. Gardner Ackley

• Prof. Dalton

• G.K. Shaw

Answer 1

Prof. Dalton's definition highlights the three components of fiscal policy — revenue, expenditure and debt of the government — and stresses that they are used for achieving definite objectives. The other economists gave definitions focusing on expenditure-tax alterations or their goals.