Term
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Definition
| An annual statement of the revenues, outlays, surplus, or the deficit of the government of the united states |
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Term
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Definition
| The use of the fedral budget to achieve Macroeconomic objective of high and sustained economic growth and full employment |
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Term
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Definition
| Starts October 1, ends on September 30 |
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Term
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Definition
| The effects of fiscal policy on potential gdp |
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Term
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Definition
| The gap created by a tax in between what a buyer pays and what a seller recieves. In the labor market, it is the gap between the before tax wage rate and after tax wage rate. |
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Term
| Discretionary Fiscal Policy |
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Definition
| A fiscal Policy that is inated by an act of congress |
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Term
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Definition
| A fiscal policy that is triggered by the state of the economy. |
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Term
| Expansionary Fiscal Policy |
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Definition
| Desretionary fiscal policy designed to increase aggregate demand--A discretionary increase in govenment expenditure or transfer payments or discretionarytax cut |
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Term
| Contractionary Fiscal Policy |
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Definition
| A fiscal policy designed to decrease aggregate deman-- a decrease in government expenditure, a decrease in transfer payments, or a tax increase. |
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Term
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Definition
| taxes that vary with realGDp |
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