

Chapter 15 Fiscal Policy Flashcard
Flashcard
•
Social Studies
•
12th Grade
•
Practice Problem
•
Medium
Joseph Fagan
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25 questions
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1.
FLASHCARD QUESTION
Front
Define fiscal policies, like lower spending and higher taxes, that reduce economic growth.
Back
contractionary policies
2.
FLASHCARD QUESTION
Front
Fiscal year
Back
a twelve month period that can begin on any date.
3.
FLASHCARD QUESTION
Front
a situation in which the government takes in more than it spends.
Back
budget surplus
4.
FLASHCARD QUESTION
Front
Definition: a situation in which the government spends more than it takes in.
Back
budget deficit
5.
FLASHCARD QUESTION
Front
The idea that every one dollar of government spending creates more than one dollar in economic activity is defined as:
Back
multiplier effect
6.
FLASHCARD QUESTION
Front
A plan for the federal government's revenues and spending for the coming year is known as:
Back
Federal budget
7.
FLASHCARD QUESTION
Front
The use of government spending and revenue collection to influence the economy is defined as:
Back
Fiscal policy
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