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Principles of Macroeconomics- Chp. 15
Chapter Fifteen--Definitions
4
Economics
Undergraduate 2
12/04/2011

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Term
Fiscal Policy
Definition
changes in federal taxes and purchases that are intended to achieve macroeconomic policy objectives
Term
Automatic Stabilizers
Definition
government spending and taxes that automatically increase or decrease along with the business cycle
Term
Budget Deficit
Definition
the situation in which the government's expenditures are greater than its tax revenue
Term
Budget Surplus
Definition
the situation in which the government's expenditures are less than its tax revenue
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