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Whatever Works
Read my lips...No more Taxes
Spend, Spend, Spend
It's the Government
Contractionary or Expansionary
100
Recession
What is Expansionary fiscal policy is used to combat
100
Income, capital gains, dividends, small businesses, payroll, and corporate taxes
What are some types of tax cuts?
100
C+G+I+NX
What are the parts of GDP ?
100
The government gains more of this when it lowers prices or increases government spending
What is debt ?
100
A massive public works project is funded by Congress
What is expansionary?
200
Tax cuts and increasing government spending
What are the two major examples of Fiscal Policy?
200
What increases when taxes are lowered ?
What is consumer spending and aggregate demand?
200
A permanent spending law enacted to stabilize the economy
What is non-discretionary policy
200
Creates jobs and alleviates unemployment
What do tax cuts and increased gov spending do?
200
This type of fiscal policy is implemented when attempting to shift the aggregate demand curve to the left.
What is contractionary?
300
General Theory of Employment, Interest, and Money
Who is John Maynard Keynes
300
A permanent taxation law put in place to stabilize the economy
What is non-discretionary fiscal policy?
300
Discretionary
What type of spending focuses on military budget?
300
Government influences this through taxes and transfers.
What is consumption spending?
300
Congress passes a law increasing income tax rates.
What is contractionary?
400
A main too of fiscal policy that does not shift the AD
What is taxes?
400
How governments collect money for their spending.
What is a tax?
400
A fiscal policy that decreases government spending.
What is contractionary fiscal policy?
400
Raise taxes and lower government spending
What can the government do to fix inflationary gaps ?
400
Capital gains taxes are cut, leading to increased business investments.
What is expansionary?
500
A period of time where Unemployment is high and factories sit unused
What is a recessionary gap ?
500
The government can affect this through tax policy.
What is investment spending?
500
A policy that gives a consumer purchasing power.
What is the expansionary fiscal policy?
500
Congress cuts the budget for the National Endowment for the arts.
What is expansionary?