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FISCAL BUDGET: A statement of the financial position of government during its fiscal year based on estimates of anticipated tax revenues and expenditures. The U.S. Federal government's fiscal budget is the source of, and lends its name to, fiscal policy.
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TAX MULTIPLIER A measure of the change in aggregate production caused by changes in government taxes. The tax multiplier is the negative marginal propensity to consume times one minus the slope of the aggregate expenditures line. The simple tax multiplier includes ONLY induced consumption. More complex tax multipliers include other induced components. Two related multipliers are the expenditures multiplier, which measures the change in aggregate production caused by changes in an autonomous aggregate expenditure, and the balanced-budget multiplier which measures the change in aggregate production from equal changes in both taxes and government purchases.
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BLUE PLACIDOLA
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Today, you are likely to spend a great deal of time touring the new suburban shopping complex seeking to buy either a birthday greeting card for your grandfather or a weathervane with a cow on top. Be on the lookout for telephone calls from former employers.
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Only 1% of the U.S. population paid income taxes when the income tax was established in 1914.
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"Success is going from failure to failure without a loss of enthusiasm. " -- Winston Churchill, British statesman
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MFN
Most-Favoured Nation
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