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Automatic Stabilizers
Economic policies and programs, such as unemployment insurance and taxation, that automatically adjust with economic conditions to stabilize income and spending.
Recession
An interval of momentary economic contraction characterized by decreased commercial and industrial operations, commonly signaled by a reduction in Gross Domestic Product over two back-to-back quarters.
Government Budget Deficit
The financial situation that occurs when a government's expenditures exceed its revenues in a given fiscal year.
Automatic Stabilizer
Economic policies and programs, like unemployment insurance and progressive taxation, designed to automatically adjust to changes in economic conditions to stabilize the economy.
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