Describe the notion of political business cycle
Describe the notion of political business cycle.
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A political business cycle is the perception that politicians are more interested in re-election than in stabilizing the economy. Before the election, they enact tax cuts and spending raise to make happy voters even though it may fuel inflation. After the election, they apply the brakes to hold back inflation; the economy will slow and unemployment will increase. In this view the political procedure creates economic instability.
Change Book System: The system the Department of Finance employs to record all the legislative modifications (comprising changes stated by the Administration and approved by the Legislature) made to the Governor's Budget and the last actions on the bu
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Section 28.50: It is a Control Section of the Budget Act which authorizes the Department of Finance to increase or reduce the reimbursement line of an appropriation schedule for the reimbursements received from agencies of other state. It too contains
Budget Year (BY): The next state fiscal year, starting July 1 and ending June 30, for which the Governor's Budget is proposed (that is, the year following the present fiscal year).
Department of Finance (Finance): The Director of Finance functions as the Governor’s chief fiscal policy advisor with the emphasis on financial integrity of the state. Finance is delegated the accountability for preparation of the Governor's Bud
Chapter: The reference allotted by the Secretary of State to an enacted bill, numbered in sequence in order of enactment each calendar year. The enacted bill is then termed to by this "chapter" number and the year in which it became law. For illustrat
Assume you won $15 on a Lotto Canada ticket at the local 7-Eleven & decided to spend all the winnings on bags of peanuts and candy bars. The cost of candy bars is $.75 and the cost of peanuts is $1.50. Build a table illustrating the alternative combinatio
What is the schedule of Federal Funds and Reimbursements, Supplementary: The supplemental schedule proposed by departments throughout budget preparation that exhibits the federal receipts and reimbursements through source.
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