Keeping the economy from overheating and from generating inflationary pressures What are the fiscal policy timing lags? -information lag Transfer payments fall as fewer people require welfare and unemployment insurance Automatic stabilizers: As Tax receipts rise and Transfer payments fall during economic growth, what effects will it have on the rising tax revenues and declining transfer payments The rising tax revenues and declining transfer payments have contractionary effects List out in order what happens when the economy is growing from automatic stablizers in order (1, 22, 3 4) 1: Tax receipts rise as consumers and first increase their taxable incomeĢ: Transfer payments fall as fewer people require welfare and unemployment insuranceĢ: The rising tax revenues and declining transfer payments have contractionary effectsĤ. When the economy is growing due to automatic stabilizers, what happens? Tax receipts rise as consumers and first increase their taxable income Some economists argue that the FDA's drug approval process is too costly Define automatic stabilizers Tax revenues and transfer payments automatically expand or contract in ways that reduce the intensity of business fluctuations without any overt action by Congress or other policy makers. Prices fell in both industries following the deregulation
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