Fiscal Policy and Government Economics: Spending, Taxation, and Budget Management

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Economics - Macroeconomics

georgepetenjk Created by 10 mon ago

Cards in this deck(18)

What is the term for changes in government purchases and taxes by Congress and the President intended to achieve macroeconomic policy objectives?

What is the term used when government revenue is less than its outlays?

What is the term used when government revenue exceeds its outlays?

What is the term for the accumulation of debts minus surpluses over all years?

What are government spending and taxes that automatically increase or decrease along with the business cycle called?

What type of fiscal policy is used to decrease aggregate demand or supply by decreasing government spending or raising taxes?

What type of fiscal policy is used to increase aggregate demand or supply by increasing government spending or decreasing taxes?

What is the term for fiscal policy that aims to minimize the ups and downs of a business cycle?

What is the term for a decline in private expenditures as a result of an increase in government purchases?

What is the term for the ratio of change in consumption to change in income?

What is the process by which a change in autonomous expenditures leads to a larger change in real GDP called?

What is the term for policy designed to affect aggregate supply by increasing incentives to work, save, and start a business by reducing tax wedges?

What is the term for the delay that occurs because Congress and the President have to agree on fiscal policy changes?

When is expansionary fiscal policy typically used?

When is contractionary fiscal policy typically used?

What is the term for the difference between the pretax and the posttax return to an economic activity?

What is the term for the delay that occurs because it takes time for fiscal policy to have an effect?

What is the term for the time it takes for policymakers to recognize the existence of a problem?

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