Examlex
Which of the following statements is TRUE?
Budget Deficits
Budget deficits describe the financial situation where a government's expenditures surpass its income, leading to a shortfall that must be financed through borrowing.
Stimulus Package
A set of government measures, typically involving spending and tax cuts, intended to boost economic activity during a downturn.
Great Recession
The severe global economic downturn that occurred from late 2007 through mid-2009, characterized by significant declines in economic activity worldwide.
Automatic Stabilizers
Automatic stabilizers are economic policies and programs, like unemployment insurance and progressive taxation, that automatically adjust to dampen economic fluctuations without additional government action.
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