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Hyde warned about the danger of confusing the terms well-established and large, arguing that
Consumption
The use of goods and services by households.
Fiscal Policy
Government policies related to taxation and spending to influence the economy.
Federal Government's Powers
The specific authorities granted to the federal government of a country, often outlined in its constitution, to manage national affairs and governance.
Discretionary Fiscal Policy
Government policy actions, such as changes in taxation and spending, deliberately undertaken to influence economic activity and stabilize the economy.
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