Full employment deficit/Definition: Difference between revisions
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the ''budget deficit'' after adjustments to exclude recession-induced increases in expenditure and reductions in revenues - in other words, the deficit that would have existed if the economy had been at full employment (also | the ''budget deficit'' after adjustments to exclude recession-induced increases in expenditure and reductions in revenues - in other words, the deficit that would have existed if the economy had been at full employment (see also "cyclically-adjusted budget ''). | ||
Revision as of 15:30, 6 April 2009
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Full employment deficit [r]: the budget deficit after adjustments to exclude recession-induced increases in expenditure and reductions in revenues - in other words, the deficit that would have existed if the economy had been at full employment (see also "cyclically-adjusted budget ).