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The active form of management by exception
Transfer Payments
Payments made by the government to individuals without any expectation of a direct return, such as welfare, social security, and unemployment benefits.
Automatic Stabilizers
Economic policies and programs, such as unemployment benefits and progressive taxation, that automatically help stabilize an economy by increasing spending in a downturn and reducing spending in an upswing without additional government action.
Private Spending
Private Spending is the total expenditures by individuals and businesses in an economy, excluding government spending and investment.
Transfer Payments
Payments made by the government to individuals or organizations without requiring any goods or services in return, such as welfare checks or social security.
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