Term
| Fiscal policy consists of? |
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Definition
| Deliberate changes in government spending, taxes or some combination of both to promote full employment, price level stability. |
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Term
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Definition
| Increases in government spending, increases in taxes or both (budget deficit) |
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Term
| Cyclical deficits, or surpluses are those that result from? |
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Definition
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Term
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Definition
| The amount by which expenditures of the Federal government exceed its revenues in any year. |
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Term
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Definition
| The amount by which revenues of the Fed government exceed its expenditures in any year. |
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Term
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Definition
| A federal budget deficit that is caused by a recession and the consequent decline in tax revenues. |
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Term
| Political Business Cycle? |
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Definition
| The alleged tendency of presidential administrations and Congress to create macroeconomic instability by reducing taxes and increasing government spending before elections and to raise taxes and reduce expenditures after elections. |
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