March 2013
Beginner
252 pages
6h 50m
English
Content preview from A Primer on MacroeconomicsBecome an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
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Automatic Stabilizers: Nondiscretionary Stabilization
The government has fiscal policy tools at its disposal that it can choose to deploy during economic downturns or upswings in order to stabilize the economy. The economy also has nondiscretionary automatic stabilizers that lessen the swings in GDP as the economy moves through the business cycle. Revenue and expenditure programs or policies established in the federal budget that adjust in magnitude as the level of economic activity changes are examples of automatic stabilizers.
Automatic Stabilizers During a Recession
During a recession, when incomes are falling and greater numbers of workers are on the unemployment rolls, more transfer payments are pumped into the economy in the form of unemployment ...
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