Examlex
Key Terms Instructions: Please define the following key terms. Show Who? What? Where? When? Why Important?
Karl Jaspers
Recession
A decline in real GDP for two consecutive quarters.
Lowering Tax Rates
The act of reducing the percentage at which income or corporate profits are taxed, which can affect economic behaviors and government revenues.
Supply-siders
Economists who believe reducing barriers for people to produce (supply) goods and services, like lower taxes, will stimulate economic growth.
Curing Recessions
Efforts and policies aimed at stimulating economic recovery and ending periods of economic decline.
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