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 Course notes quick navigation

1 Introductory concepts 2  Market mechanism  3 Elasticities  4 Market structures 5  Market failures  6  Macro economic activity/eco growth  7 Inflation 8  Employment & unemployment  9  External Stability  10  Income distribution 11.Factors affecting economy  12  Fiscal/Budgetary policy  13  Monetary Policy   14 Aggregate Supply Policies  15 The Policy Mix

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The fiscal outcome


The fiscal outcome relates to revenue that has been earned over the relevant period less expenses that have been incurred over the period.  It provides the most accurate picture of the Government’s financial performance.  This is because items are included as revenue regardless of whether they have been received, and expenses regardless of whether they have actually been paid.  It is very similar to a ‘Profit and Loss’ statement (or financial performance report) for the Federal Government and based on accrual accounting principles.

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