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Federal Taxes
Taxes levied by the national government on income, property, sales, and other activities, used to fund public services and programs.
Automatic Stabilizers
Economic policies and programs, such as unemployment insurance and progressive taxes, that automatically adjust to stabilize economic fluctuations.
Business Cycle
The natural rise and fall of economic growth over time, characterized by periods of expansion, peak, contraction, and trough.
Federal Government
The national government of a federal country, where powers are divided between central authority and constituent political units, such as states or provinces.
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