CBSE Class 12-commerce Answered
What
will be the situation if fiscal discipline is not maintained?
Asked by Topperlearning User | 19 Apr, 2016, 09:14: AM
Expert Answer
Lack of fiscal discipline causes greater flow of money than the volume of output in the economy. It leads to inflationary condition where wages catch prices and prices catch wages. Because of high cost of production with low aggregate demand, process of investment will be in trouble. When investment get struck or is reduced, then unemployment prevails which lead to low level of equilibrium trap.
Answered by | 19 Apr, 2016, 11:14: AM
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