Term
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Definition
| Programs are government programs intended to protect families against economic hardship |
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Term
| Expansionary Fiscal Policy |
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Definition
| Increases aggregate demand |
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Term
| Contractionary Fiscal Policy |
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Definition
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Term
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Definition
| Are government spending and taxation rulies that cause fiscal policy to be expansionary when the economy contracts and contractionary when the economy expands |
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Term
| Discretionary Fiscal Policy |
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Definition
| Fiscal policy that is the result of deliberate actions by policy makers rather than rules |
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Term
| Cyclically Adjusted Budget Balance |
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Definition
| An estimate of what the budget balance would be if real GDP were exactly equal to potential output |
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Term
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Definition
| Run from October 1st to Sept. 30th and are named by the calender year in which they end |
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Term
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Definition
| Governemt debt held by individuals and institutions outside the government |
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Term
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Definition
| Government debt as a percentage of GDP |
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Term
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Definition
| Are spending promises made by governments that are effectively a debt despite the fact that they are not included in the usual debt statistics |
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