Examlex
Explain why and how there has been a significant shift of power from the President and Congress to the bureaucracies in the United States.
Rational Expectations
An economic theory suggesting that individuals make predictions about future economic events using all available information in an unbiased and informed manner.
Discretionary Policies
Economic policies based on the judgment and decisions of policymakers, as opposed to set rules or formulas, often involving changes in government spending or taxation.
Policy Rules
Guidelines or protocols that dictate the actions of an organization or government in specific situations to achieve desired outcomes.
Laffer Curve
A theory that suggests there exists an optimal tax rate which maximizes government revenue without deterring economic growth, demonstrating the trade-off between tax rates and taxable income.
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