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10 cards from this deck
Govt uses spending & taxation to achieve economic objectives
G=TG = TG=T (spending equals revenue)
G>TG > TG>T (spending exceeds revenue)
G<TG < TG<T (spending less than revenue)
Manages aggregate demand (AD) level in the economy
Increases AD via higher spending or lower taxes
Decreases AD via lower spending or higher taxes
Public spending displaces private spending, limiting AD increase
Increase economy's productive capacity & shift LRAS right
1950s to 1979
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