Examlex
Which of the following is LEAST-Likely a component of the steering system?
Discretionary Fiscal Policy
Government policy actions, through spending or taxation, aimed at influencing economic conditions based on current economic assessments.
Budget Deficit
The financial situation where an entity's expenses exceed its revenues within a given timeframe.
Annually Balanced Budget
Budget philosophy prior to the Great Depression; aimed at matching annual revenues with outlays, except during times of war.
Business Cycle
The periodic fluctuations in economic activity characterized by phases of expansion and contraction.
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