Balancing New Government Purchases with an Equivalent Increase in Taxes

question 127

True/False

Balancing new government purchases with an equivalent increase in taxes will avoid stimulus to the economy.

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Definitions:

Fair Labor Standards Act

United States federal law that establishes minimum wage, overtime pay eligibility, recordkeeping, and child labor standards.

Overtime Earnings

The additional compensation paid to employees for hours worked in excess of the standard workweek hours, often calculated at a higher rate.

FICA-OASDI

The portion of the Federal Insurance Contributions Act tax that funds the Social Security program, covering retirement, disability, and survivors' benefits.