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Discretionary Policies
Economic strategies, involving government spending and taxation, that are implemented at the discretion of the government to manage economic fluctuations.
Monetarist Economists
Economists who believe that variations in the money supply have major influences on national output in the short run and the price level over longer periods.
Phillips Curve
Curve showing inverse relationship between the unemployment rate and the rate of inflation.
Laffer Curve
Shows that at very high tax rates, very few people will work and pay taxes; therefore government revenue will rise as tax rates are lowered.
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