We say that a variable is cyclical if it increases with economic booms and declines with economic
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We say that a variable is cyclical if it increases with economic booms and declines with economic recessions. We say that a variable is countercyclical if the opposite is true. Which elements of the U.S. federal budget are cyclical and which are countercyclical?
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Many categories of federal revenue are cyclical For example both the personal income tax ...View the full answer
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