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In late 2008, the U.S. Congress voted to extend unemployment insurance benefits for seven additional weeks, in recognition of the growing unemployment problem. This extension is an example of:

Answer :

In late 2008, the US congress voted to extend unemployment insurance benefits for seven additional weeks, in recognition of the growing unemployment problem. this extension is an example of automatic fiscal policy.

What is an automatic fiscal policy?

Automatic fiscal policy refers to the elements that are incorporated with government revenues and expenditures, that may reduce the fluctuations in economic activity without considering the discretionary government actions.

Automatic fiscal policy is the stabilizer of the fiscal policy that is mainly designed to counterbalance the fluctuations in economic activity of a nation through their normal operation.

Basically, the above mentioned situation is an example of automatic fiscal policy.

Learn more about automatic fiscal policy here:-

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