powepoint econ
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Fiscal Policy
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John Maynard Keynes
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John Maynard Keynes, foremost economist of the 20th century, urged government to allocate more funds for labor-intensive projects that would give more jobs to
people and reduce unemployment.
The success of this strategy was widely recognized.
Laissez faire (allow to do)
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Fiscal Policy
It is concerned with using government spending and tax policies to influence economy.
Government expenditure affect economic growth because these are included in the GNP and GDP.
Fiscal Policy can help solve the problems of unemployment and inflation.
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Pork Barrel
a government appropriation, bill, or policy that supplies funds for local improvements designed to ingratiate
legislators with their constituents.
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GNP= C+I+G+(X-M)
GNP- Gross National ProductC- Consumption
I- InvestmentG- Government Spending
X- ExportM- Import
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UnemploymentIncrease Government Expenditures
Reduce Taxes
Inflation
Reduce ExpendituresIncrease Taxes
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National Budget
The national budget is government’s projection of its income and expenditures, based on its activities for a
particular year. It shows how the government spends the people’s hand-earned funds. The government must
efficiently allocate its funds to ensure the growth of the economy and the efficient delivery of public services.
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Types of Government Expenditures
Current Operating Expenditures
Capital Expenditures
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Categories of Government Expenditures
Economic Services Expenditures
Social Service Expenditures
Security or Defense Expenditures
Public Service Expenditures
Debt Servicing
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Region Budget
CAR P 31.7 B
NCR P 129.4 B
I P 49.7 B
2 P 44.8 B
3 P 88.9
4 P 130.2 B
5 P 63.2 B
6 P 74.4 B
7 P 63 B
8 P 56.5 B
9 P 42 B
10 P 48. 1 B
11 P 46.3 B
12 P 43.5
ARMM P 43. 8 B
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Department P 1,025 B
Congress of the Philippines P 9.8 B
Office of the President P 2.7 B
Office of the Vice-President P 420. 5 M
Department of Agriculture P 63.7 B
Department of Education P 249.2
State Universities and Colleges P 34.9 B
Department of Foreign Affairs P11.7 B
Department of Health P 40.9 B
Department of Interior and Local Government P 91.7 B
Department of Science and Technology P 10 B
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Special Purpose Fund P 980.7BBudgetary Support to Government Corporations (BSGC) Allocations to Local Government Units Calamity Fund Contingent Fund Department of Education – School Building Program E-Government Fund International Commitments Fund Miscellaneous Personnel Benefits Fund (MPBF) Pension and Gratuity Fund (PGF) Priority Social and Economic Projects Fund (PSEPF)1
Priority Development Assistance Fund Tax Expenditures Fund Debt Service Fund-Interest Payment
P70.8 B
P319.8 B
P7.5 B
P1 B
P1 B
P1 B
P2.6 B
P70.1 B
P98.7 B
P22.4 B
P24.9 B
P26.9 B
P333.9 B