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Unit 4 Economics Study Notes

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Unit four of the year 12 economics course. Full comprehensive study notes for students

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15 Pages Partial Study Notes > 2 Years old
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Unit 4 Economics Study Notes
Topics this document covers:
Economy Economics Macroeconomics Public finance Fiscal policy Economic policy Macroeconomic policy United States fiscal cliff United States federal budget Monetary policy Supply-side economics Automatic stabilizer
This is a Partial Set of Study Notes

Partial Study Notes typically cover only single topics of a unit of study or do not cover multiple topics in significant detail. They are generally less than 20 pages in length.

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Topics this document covers:
Economy Economics Macroeconomics Public finance Fiscal policy Economic policy Macroeconomic policy United States fiscal cliff United States federal budget Monetary policy Supply-side economics Automatic stabilizer
Sample Text:
It is used in a counter-cyclical way to decrease the impact of booms and recessions and help achieve the government’s economic goals. • Budget revenues: come from direct taxes like those on personal income and company profits, and from indirect taxes such as excise or tariffs, along with non-tax revenues (e.g. asset sales) • Budget expenses: arise from various types of government outlays such as defense, health and education involving both government spending (G1) and government investment (G2), as well as transfer payments including welfare. The aims of budgetary policy • Improves the welfare or living standards of all Australians • Promotes external stability • Promotes low infla...
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