Examlex
Discretionary fiscal policy is an extremely precise tool of macroeconomic stabilization.
Consumer Surplus
The difference between the total amount consumers are willing to pay for a good or service and the total amount they actually pay.
Producer Surplus
The difference between what producers are willing to accept for a good or service versus what they actually receive, indicating gains from trade.
Importing Country
A nation that buys goods and services from foreign countries to fulfill its domestic demands, which can affect its trade balance and economic health.
World Price
The worldwide market value of a product or service, established by the universal demand and supply.
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