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b) Discuss the view that govt policies to deal with such a deficit can be…
b) Discuss the view that govt policies to deal with such a deficit can be potentially damaging and ineffective. [15]
KW:
- Discuss: give 2 pov
- Policies to deal with such a deficit: What are the policies you have learnt? expenditure reducing policies, expenditure switching policies
- Damaging: How is it damanging? --> by damaging, we mean that its doesnt help us to achieve the 4 macro goals
- Ineffective: How is it ineffective?
intro
- the policies that help to deal with a persistent and large BOT deficit are expenditure switching and expenditure reducing policies
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conclusion
although the policies could cause damages, it is also true that these damages could be mitigated with the right intervention and monitoring
If this were a sg context question, we focus less on protectionist measures and more on SSP