Chapter 24 Flashcards
1
Q
Balanced Budget Multiplier
A
The multiplier for a change in government purchases that is matched by an equal change in taxes
2
Q
Burden of the Debt
A
Interest payments on the national debt as a percentage of GDP
3
Q
Countercyclical Fiscal Policy
A
A change in government purchases or net taxes designed to reverse or prevent a recession or a boom
4
Q
Debt Ratio
A
Publicly held national debt as a percentage of GDP
5
Q
Government Outlays
A
Total disbursements by the government for purchases, transfer payments, and interest on the debt
6
Q
National Debt
A
The total amount the federal government still owes to the general public from past borrowing
7
Q
Net tax multiplier
A
The amount by which real GDP changes for each one dollar change in net taxes
