Final answer:
The claim that Congress meets every 6 - 8 weeks to discuss fiscal policy is false (b). Fiscal policy discussions are not scheduled that frequently, as policy changes occur in response to economic conditions and legislative sessions. Balanced budget opinions vary, as economic conditions may require different fiscal approaches.
Step-by-step explanation:
The statement that Congress meets about every 6 - 8 weeks to discuss the performance of the economy and potential changes to fiscal policy is false. While the Federal Reserve's Open Market Committee meets several times a year to discuss monetary policy, fiscal policy changes are not scheduled to be discussed at such frequent intervals. Fiscal policy involves government spending and taxation decisions, which are typically addressed during specific sessions of Congress and are generally influenced by economic conditions and policy goals.
The main reasons for employing contractionary fiscal policy are to prevent inflation during times of strong economic growth and to avoid the economy from overheating. Conversely, expansionary fiscal policy is usually employed during a recession to increase employment and stimulate economic growth.
Regarding the balanced budget, opinions can vary. Some argue that running a balanced budget each year may not always be in the best interest of the economy, especially during times of economic downturns when automatic stabilizers and discretionary fiscal policy may necessitate running deficits to support the economy.