fiscal policy

49666435	fiscal policy	government use of taxing and spending to stabilize the economy
49666436	federal budget	a plan for the federal government's revenues and spending for the coming year
49666437	OMB	government office that manages the federal budget
49666438	fiscal year	12 month period that can begin on any date
49666439	CBO	government agency that provides economic data to Congress
49666440	appropriations bill	a bill that sets money aside for specific spending
49666441	expansionary policies	fiscal policies, like higher spending and tax cuts that promote economic growth
49666442	contractionary policies	fiscal policies, like lower spending and higher taxes that reduce economic growth
49666443	classical economics	the idea that free markets can regulate themselves
49666444	productive capacity	the maximum output that an economy can produce without big increases in inflation
49666445	keynesian economics	a form of demand-side economics that encourages government action to increase or decrease demand and output
49666446	multiplier effect	the idea that every one dollar of spending creates more than one dollar in economic activity
49666447	automatic stabilizer	a government program that changes automatically depending on GDP and a person's income
49666448	supply-side economics	a school of economics that believes tax cuts can help an economy by raising supply
49666449	CEA	a group of 3 respected economists that advise the President on economic policy