Examlex
The argument that smoking marijuana reduces life span has an omitted variable in that it ignores that cancer patients often smoke.
Expansionary Fiscal Policy
A government policy aimed at stimulating economic growth by increasing public spending, cutting taxes, or both, to boost aggregate demand.
Equilibrium Price Level
The cost at which the amount of products offered matches the amount of products requested.
Equilibrium Output
The level of production at which the quantity of goods produced equals the quantity of goods demanded.
Keynesian Approach
An economic theory proposing that government intervention through fiscal policies (spending and taxes) can affect the overall level of economic activity, stabilizing the economy.
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