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Why did Cooley refer to some groups as "primary groups"?
Transfer Payments
Payments made by the government to individuals, without the government receiving any goods or services in return.
Nondiscretionary Fiscal Policy
involves government policies, like taxation and certain types of government spending, that are not easily altered and automatically adjust to economic conditions.
Aggregate Demand
The whole of economic demand for goods and services at a given price level, within a certain time range.
Federal Budget
A government's plan for revenue and spending over a specific period.
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