EC 202 Key Terms - Lesson 2 Key Terms Fiscal Policythe use...

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Lesson 2 Key Terms Fiscal Policy— the use of government expenditure and revenue collection to influence the economy Average Labor Productivity— output per person Positive Analysis— involved testable assertions addressing the consequences of a particular event or policy Aggregation— the adding up of individual economic valuables to obtain economy-wide totals Monetary Policy— how a central bank uses interest rates and the money supply to guide economic growth and determine the rate of inflation Normative Analysis— involves the values of the person doing the analysis to determine whether a policy should be used Macroeconomic Policies— government actions designed to affect the performance of the economy as a whole Structural Policy— government policies aimed at changing the underlying structure, or institution of the nations economy Lesson 3 Key Terms Government Purchases— purchases by federal, state, and local governments of final goods and services Participation Rate— the percentage of the working-age population in the labor force Net Exports—
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EC 202 Key Terms - Lesson 2 Key Terms Fiscal Policythe use...

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