| 单词 | balanced budget multiplier |
| 释义 | balanced budget multiplier The argument found in Keynesian economic models, that a rise in government spending on real goods and services combined with an equal rise in taxation, leaving the budget deficit or surplus unaltered, must increase the national product by exactly the amount spent. The effect of an extra £100 of real spending is to shift income from those who pay the £100 of extra taxes to the producers of the extra real output the government buys, so other incomes are unchanged, and the extra £100 of goods bought by the government are an addition to national output. This argument is as correct as its assumptions, which are that the savings propensities of taxpayers and government suppliers are equal, and that there are no repercussions elsewhere in the economy, either through the monetary system, or through the effects of extra taxes and spending on business confidence. |
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