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Chapter 12

Across
Situation that occurs if government revenues exceed expenditure
The provision of aid or money to an individual who is not required to provide anything in exchange.
Any government program that tends to reduce fluctuations in GDP automatically.
The tendency for a contractionary fiscal policy to increase other components of aggregate demand.
The sum of all past federal deficits, minus any surpluses.
Down
The school of thought that promotes the use of fiscal policy to stimulate long-run aggregate supply.
Situation that occurs if government revenues exceed expenditure
Situation that occurs if the budget surplus equals zero
The tendency for an expansionary fiscal policy to reduce other components of aggregate demand