Examlex
What are the subsystems of the expenditure cycle?
Inflation
An overall uptick in price levels and a decline in the value of money.
Liberal Economist
An economist advocating for policies promoting free market principles, minimal government intervention, and individual liberties in economic matters.
Government Spending Cuts
Government Spending Cuts involve the reduction of public sector expenditure in an attempt to balance budgets and reduce deficits.
Multiplier
In economics, it refers to the factor by which gains in total output are greater than the change in spending that caused it.
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