Question

write this more simply: budgetary surpluses and deficits denote different fiscal outcomes related to government finances, while discretionary and cyclical fiscal policy actions describe distinct approaches to influencing economic conditions, one being planned and enacted deliberately, and the other occurring automatically in response to economic cycles.

Answer 1

Budget surpluses and deficits refer to the financial results of a government, while discretionary and cyclical fiscal policies are different ways the government tries to manage the economy. Discretionary policies are planned and put into action intentionally, whereas cyclical policies happen automatically based on economic changes.