Fiscal Policy w/multipliers + Phillips Curve
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Last updated 5:48 PM on 11/19/24
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11 Terms
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What are the tools of fiscal policy?
Government spending and taxes
2
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Government spending has a direct or indirect impact on AD
direct
3
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Taxes has a direct or indirect impact on AD
indirect
4
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A shift in AD will…
move along the curve (SRCP)
5
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A shift in AS will…
will move the entire SRPC
6
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What does MPS stand for?
Marginal Propensity to Save
7
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Spending Multiplier Equation
1/MPS
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What does MPC stand for?
Marginal Propensity to Consume
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What does MPC stand for?
Marginal Propensity to Consume
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The tax multiplier is…
always 1 less than the spending multiplier
11
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money multiplier equation
1/reserve requirement
Note 
Flashcards (30)