Stabilizing the Business Cycle
{"Image DocumentName": "Stabilizing the Business Cycle", "Image ImageDescription": "The spending on programs that pay benefits to suitably qualified people and businesses is called needs-tested spending. When the economy is in a recession, unemployment is high and needs-tested spending increases. When the economy expands, unemployment falls, and needs-tested spending decreases. Induced taxes and needs-tested spending decrease the multiplier effects of changes in autonomous expenditure. So they moderate both expansions and recessions and make real GDP more stable.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}