Examlex
Suppose that DiamlerChrysler is considering changing its production operations from an assembly line in which each employee adds one piece as a car chassis goes by to an operation in which several employees work as a team to build the total car, with the team deciding who does what tasks. If DiamlerChrysler implements the change, the interrelationships would change from:
Budget Deficit
A financial situation where a government's expenditures exceed its revenues within a specific period, leading to borrowing or depleting reserves.
Automatic Stabilizers
Economic policies and programs, like unemployment benefits, that automatically adjust to stabilize an economy during fluctuations.
Recession
A significant decline in economic activity spread across the economy, lasting more than a few months, usually visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.
Automatic Stabilizers
Economic mechanisms, such as progressive taxation and welfare, that automatically adjust to counteract economic fluctuations without the need for explicit government intervention.
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