Term
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Definition
| Use of government spending and revenue collection to influence economy |
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Term
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Definition
| Written document estimating government revenue and authorizing spending for coming year |
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Term
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Definition
| 12 month period used for budget purposes |
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Term
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Definition
| Bill authorizes specific amount of spending by government |
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Term
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Definition
| Fiscal policy used to encourage economic growth through increased spending or tax cuts |
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Definition
| Fiscal policy used to reduce economic growth, through decreased spending or higher taxes |
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Term
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Definition
| School of thought based on idea free markets regulate themselves |
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Term
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Definition
| Maximum output that economy can sustain over a period of time without increased inflation |
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Term
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Definition
| School of thought based on idea that demand for goods drives the economy |
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Term
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Definition
| School of thought uses demand side theory as basis for encouraging government action to help economy |
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Term
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Definition
| Idea that every one dollar change in fiscal policy creates a change greater than one dollar in national income |
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Definition
| Tool of fiscal policy increase or decreases automatically depending on changes in GDP and personal income |
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Term
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Definition
| School of thought based on supply of goods drives the economy |
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Term
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Definition
| Situation which budget revenues exceed expenditures |
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Term
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Definition
| Situation which budget expenses exceed revenues |
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Term
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Definition
| Government bond with maturity date of 26 weeks or less |
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Term
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Definition
| Government bond with term of 2 to 10 years |
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Term
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Definition
| Government bond issued with term of 30 years |
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Term
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Definition
| Total amount of money federal government owes to bondholders |
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Term
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Definition
| Loss of funds for private investment caused by government borrowing |
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