Premium content available for purchase is identified in the left-hand Navigation Menu by the asterisk (*) which precedes the content name. Premium Content on this OLC includes:

1. Digital Study Guide, written by William Walstad
2. Paul Solman Videos (Chapter Content)

After reading this chapter, you should be able to:

1. Identify and explain the purposes, tools, and limitations of fiscal policy.
2. Explain the role of built-in stabilizers in moderating business cycles.
3. Describe how the cyclically-adjusted budget reveals the status of U.S. fiscal policy.
4. Discuss the size, composition, and consequences of the U.S. public debt.