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10 Cards in this Set
- Front
- Back
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Social Insurance
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programs and government programs intended to protect families against economic hardship
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Expansionary Fiscal Policy
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increases aggregate demand
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Contractionary Fiscal Policy
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reduces aggregate demand
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Discretionary Fiscal Policy
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a fiscal policy that is the result of deliberate actions by policy makers rather than rules
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Cyclically Adjusted Budget Balance
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an estimate of what the budget blance would be if real GDP were exactly equal to potential output
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Fiscal Years
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run from October 1 to September 30 and are named by the calendar year in which they end
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Public Debt
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governemnt debt held by individuals and institutions outside the government
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Debt-GDP Ratio
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government debt as a percentage of GDP
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Implicit Liabilities
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spending promisies made by governments that are effectively a debt despite the fact that they are not included in the usual debt statistics
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Automatic Fiscal Policy
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no action taken by congress
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