1. Automatic Stabilizers are structural features of government spending and taxation that reduce
fluctuations in disposable income, and thus consumption, over the business cycle.
Discretionary Fiscal Policy is the deliberate mani
Test #2 Chapters 5-11
1. Gross Domestic is the market value of all final goods and services produced in the nation during
a particular period.
Expansion is a period during which the economy`s output increases.
Contraction is a period during
1. With reference to the Foreign Corrupt Practices Act
a. Disclosure is a requirement that corporations fully disclose any and all transactions
conducted with foreign officials and politicians.
b. Prohibition is inclusion of wording from the Bank Secrecy
1. a. Ethics is the manner by which we try to live our lives according to a standard of right or wrong
b. A value system is a set of personal principles formalized into a code of behavior.
2. An ethical dilemma is a situation in which the