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Automatic Stabilizers
Changes in fiscal policy that stimulate aggregate demand when the economy goes into a recession without policymakers having to take any deliberate action
Budget Deficit
A situation where a government's expenditures exceed its revenues over a specific period of time.
Federal Reserve
The central bank of the United States, responsible for implementing monetary policy, supervising financial institutions, and providing services like clearing checks and distributing currency.
Aggregate
refers to the total amount or sum of individual parts in economics or finance.
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