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Suppose that the professional association of dentists reduces entry into their profession by lengthening the required training program.The likely effect is that
Fiscal Year
Budget year. U.S. federal budget fiscal year begins on October 1.
Automatic Stabilizers
Economic policies and programs, like unemployment benefits and progressive taxation, that automatically help stabilize economic fluctuations without direct governmental intervention.
Economic Recovery
A period of increasing business activity signaling the end of a recession, marked by a rise in GDP, employment, and consumer spending.
Transfer Payments
These are payments made by the government to individuals or other entities without expecting any goods or services in return, such as social security benefits or unemployment compensation.
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