Term
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Definition
| Adjusting the federal budget to influence employment and production |
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Term
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Definition
| An annual statement of payments, receipts and surplus or deficit of the government of Canada |
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Term
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Definition
| The budget balance when receipts exceeds payments |
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Term
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Definition
| The budget balance when payments exceeds receipts |
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Term
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Definition
| The budget balance when receipts equal payments |
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Term
| Discretionary fiscal policy |
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Definition
| A fiscal policy that is initiated by an act of Parliament |
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Term
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Definition
| A fiscal policy action that is triggered by the state of the economy, such as an increase in payments to the unemployed and a decrease in tax receipts triggered by recession |
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Term
| Government expenditure multiplier |
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Definition
| The magnification effect of a change in government expenditure on goods and services on aggregate demand |
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Term
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Definition
| The magnification effect of a change in taxes on aggregate demand |
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Term
| Balanced Budget Multiplier |
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Definition
| The magnification effect on aggregate demand of simultaneous changes in government expenditure and taxes that leave the budget balance unchanged |
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Term
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Definition
| Features of fiscal policy that stabilize real GDP without explicit action by the government |
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Term
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Definition
| Taxes that vary with real GDP |
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Term
| Induced transfer payments |
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Definition
| Payments made under social prograns such as unemployment & welfare benefits, the size of which depends on the state of the economy |
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Term
| Describe the federal budget process and explain the effects of fiscal policy |
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Definition
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Term
| Describe the Bank of Canada's monetary policy process and explain the effects of monetary policy |
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Definition
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Term
| Describe the main debates about how fiscal and monetary policy should be used to improve macroeconomic performance |
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Definition
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