economics F582

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reflationary
of policy measures designed to increase aggregate demand
1 of 15
deflationary
of policy measures designed to reduce aggregate demand
2 of 15
discretionary fiscal policy
deliberate changes in government spending and taxation designed to influence aggregate demand
3 of 15
automatic stabilisers
forms of government spending and taxation that change atomically to offset fluctuations in economic activity
4 of 15
economic cycle
the tendency for economic activity to fluctuate outside its trend growth rate, moving from a high level of economic activity to negative economic growth
5 of 15
progressive tax
a tax that takes a higher percentage from the income of the rich
6 of 15
regressive tax
a tax that takes a greater percentage from the income of the poor
7 of 15
recession
a fall in real GDP over a period of six months or more
8 of 15
tariff
a tax on imports
9 of 15
Quota
a limit on imports
10 of 15
protectionism
the protection of domestic industries from foreign competition
11 of 15
voluntary export restraint
a limit placed on imports from a country with the agreement of that countries government
12 of 15
fiscal policy
the taxation and spending decisions of a government
13 of 15
monetary policy
a central bank and/or decisions on the rate of interest, the money supply and the exchange rate
14 of 15
Supply-side policies
polices designed to increase aggregate supply by improving the efficiency of labour and product markets
15 of 15

Other cards in this set

Card 2

Front

deflationary

Back

of policy measures designed to reduce aggregate demand

Card 3

Front

discretionary fiscal policy

Back

Preview of the front of card 3

Card 4

Front

automatic stabilisers

Back

Preview of the front of card 4

Card 5

Front

economic cycle

Back

Preview of the front of card 5
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