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Macro Chapter 16

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Term
Definition
show the use of government's budget tools, government spending, and taxes to influence the macroeconomy  
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show an increase in government spending or decrease in taxes to stimulate the economy toward expansion  
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show a decrease in government spending or increase in taxes to slow economic expansion  
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countercyclical fiscal policy   show
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marginal propensity to consume (MPC)   show
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spending multiplier   show
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automatic stabilizers   show
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show phenomenon occurring when private spending falls in response to increases in government spending  
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new classical critique   show
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show policy that involves the use of government spending and taxes to affect the production (supply) side of the economy  
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Laffer curve   show
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