Examlex
Due to the effects of globalization, national level labor relations policies and practices are becoming increasingly irrelevant.
Discretionary Fiscal Measures
Discretionary fiscal measures are deliberate actions by the government to adjust its spending and taxation rates to influence the nation's economy, akin to discretionary fiscal policy with a focus on specific measures.
Budget Deficits
A financial situation where a government's expenditures exceed its revenues over a specified period, leading to borrowing or drawing down reserves.
Functional Finance
An economic theory that prioritizes achieving full employment and stable prices over balancing budgets.
Potential GDP
The maximum output an economy can produce without causing inflation, when operating at full employment.
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