Federal Budgets and Fiscal Options Vocabulary Review

What is the term for ideas promoted by Smith, Richard, and Malthus that economies regulated themselves?

What is the term for fiscal policy that tries to decrease output?

What is the idea that each dollar spent or not taxed creates a change greater than one dollar in the national income?

What is the term for fiscal policy tools that increase or decrease automatically depending on changes in GDP and income?

Which economist who prompted economics freedoms and laissez-faire policies during the Reagan administration?

Which economist whose curve demonstrated a supply-side view between the tax and the total that the government collects?

What is the term for the maximum output that an economy can sustain over a period of time without causing inflation?

What is the written document estimating the federal government’s revenue and authorizing it’s spending for the year?

What is the term for fiscal policy that tries to increase output?

What is the term for the theory that supply drives economic development?

What is the term for the use of government spending and revenue collection to influence the economy?

What is the term for demand-sided theory as the basis for encouraging government action to help the economy?

What is the term for the adopted bill submitted to the President before the year’s funding ends on September 30?

What is the term for the theory that demand drives economic development?

Which economist who promoted public spending and programs of the Great Society during the Johnson administration?

What is the term for when expenditures exceed revenues in a budget?