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Details

Title

Principles of Macroeconomics- Chp. 15

Description

Chapter Fifteen--Definitions

Total Cards

Subject

Economics

Level

Undergraduate 2

Created

12/04/2011

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Additional Economics Flashcards

Term

Fiscal Policy

Definition

changes in federal taxes and purchases that are intended to achieve macroeconomic policy objectives

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Automatic Stabilizers

Definition

government spending and taxes that automatically increase or decrease along with the business cycle

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the situation in which the government's expenditures are greater than its tax revenue

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Budget Surplus

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the situation in which the government's expenditures are less than its tax revenue