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The Main Goal of Fiscal Policy Is to Produce a Balanced

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The main goal of fiscal policy is to produce a balanced budget.


Definitions:

Plug-in Principle

A statistical method that involves estimating unknown parameters by directly substituting sample statistics (from collected data) into formulas in place of population parameters.

Population Mean

The average of all the values in a population, serving as a measure of central tendency.

Sample Mean

The average value calculated from a sample of data points, used as an estimate of the population mean.

Sample Median

The middle value of a sample data set arranged in ascending or descending order, used as a measure of central tendency.

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