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Contractionary fiscal policy _______________ Real GDP ______________ in an open economy than in a closed economy.
Change In Accounting Principle
An adjustment made to the accounting methods used by a company, often requiring retrospective application to prior period financial statements.
Net Income
The remaining earnings of a firm once subtracting every expense and tax from its total income.
Extraordinary Item
Events or transactions that are distinct from the ordinary activities of a company, which are unusual in nature and infrequent in occurrence.
Income Statement
A financial statement that shows a company's revenues, expenses, and profits or losses over a specific period of time.
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