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For each historical identification question, define the term and briefly describe its historical significance.
-Harun al-Rashid
Automatic Stabilizers
Economic strategies and initiatives aimed at stabilizing a country's economic fluctuations without further action from the government or policy makers.
Built-in Stabilizer
Economic policies or instruments, like progressive taxation and welfare, that automatically reduce the amplitude of economic fluctuations without additional government intervention.
Progressive Income Tax
A tax system in which the tax rate increases as the taxable amount increases, generally applied to income tax to ensure higher earners pay a larger percentage of their income.
Unemployment Compensation
Unemployment Compensation is a government-provided financial assistance to individuals who have lost their job through no fault of their own, aiming to support them temporarily.
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