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DISCRETIONARY FISCAL POLICY: Explicit changes in government purchases and/or taxes (fiscal policy) that are made with the expressed goal of stabilizing business cycles, reducing unemployment, and/or lowering inflation. While most fiscal policy studied in economics is discretionary, the contrast is with automatic stabilizers, changes in taxes and transfer payments the help stabilize business cycles without explicit government actions. Discretionary monetary policy is a similar type of policy.
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INFLATIONARY EXPECTATIONS, AGGREGATE EXPENDITURES DETERMINANT One of several specific aggregate expenditures determinants assumed constant when the aggregate expenditures line is constructed, and that shifts the aggregate expenditures line when it changes. An increase in inflationary expectations causes an increase (upward shift) of the aggregate expenditures line. A decrease in inflationary expectations causes a decrease (downward shift) of the aggregate expenditures line. Other notable aggregate expenditures determinants include interest rates, federal deficit, consumer confidence, and exchange rates.
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It's estimated that the U.S. economy has about $20 million of counterfeit currency in circulation, less than 0.001 perecent of the total legal currency.
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"I learned about the strength you can get from a close family life. I learned to keep going, even in bad times. I learned not to despair, even when my world was falling apart. I learned that there are no free lunches. And I learned the value of hard work. " -- Lee Iacocca
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AEA
American Economic Association
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