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7 Cards in this Set
- Front
- Back
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Classical economics |
Idea that free markets can regulate themselves |
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Productive capacity |
Maximum output that an economy can produce |
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Demands idea economics |
Idea that government spending and Tax cuts help economy |
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Keynesian economics |
A form of demand side economics that encourages government action |
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Multiplier effect |
The idea that every one dollar of government spending creates one more dollar in economic activity |
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Automatic stabilizer |
Government program that changes depending on GDP |
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Supply side economics |
A school of economics that believes tax cuts can help an economic |
