Examlex
Give two examples of automatic stabilizers,and explain why they are an important component of fiscal policy.
Transitivity
The concept in mathematics and logic that if relation "A" is related to "B", and "B" is related to "C", then "A" is related to "C".
Prefers
Indicates a choice or inclination for one option over others based on certain criteria or personal judgment.
Transitivity
In decision theory and economics, the concept that if option A is preferred to B, and B is preferred to C, then A should be preferred to C.
Kenneth Arrow
An influential economist known for his groundbreaking theories in risk, welfare economics, and his contribution to the general equilibrium theory.
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