Term
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Definition
| Government spending and taxes that automatically increase or decrease along with the business cycle |
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Term
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Definition
| The situation in which the governments' expenditures are greater than its tax revenue |
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Term
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Definition
| The situation in which the government's expenditures are less than its tax revenue |
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Term
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Definition
| A decline in private expenditures as a result of an increase in government purchases |
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Term
| Cyclically adjusted budget deficit or surplus |
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Definition
| The deficit or surplus in the federal government's budget if the economy were at potential GDP |
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Term
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Definition
| Changes in federal taxes and purchase that are intended to achieve macroeconomic policy objectives |
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Term
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Definition
The series of induced increases in consumption spending that results from an initial increase in autonomous
expenditures |
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Term
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Definition
| The difference between the pretax and posttax return to an economic activity |
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