K. A decrease in one or more components of private spending that completely offsets the increase in government spending. L. Increases in government expenditures and/or decreases in taxes to achieve particular economic goals. M. In terms of income taxes, the total amount of taxable income. Tax revenue = Tax base x (ave.) Tax rate. N. Changes in government expenditures and/or taxes that occur automatically without (additional) congressional action O. Deliberate changes of government expenditures and/or taxes to achieve economic goals. P. The decrease in private expenditures that occurs as a consequence of increased government spending or the financing needs of a budget deficit. Q. The decrease in one or more components of private spending that only partially offsets the increase in government spending. R. The change in a person's tax payment divided by the change in taxable income: ATax payment = ATaxable income. S. The curve, named after Arthur Laffer, that shows the relationship between tax rates and tax revenues. According to the Laffer curve, as tax rates rise from zero, tax revenues rise, reach a maximum at some point, and then fall with further increases in tax rates. T. Decreases in government expenditures and/or increases in taxes to achieve economic goals