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DISCRETIONARY: A specific choice, act, or decision, often designed to achieve a particular goal. The term is commonly used in economics in reference to government policies, such as discretionary fiscal policy or discretionary monetary policy. In both examples, government undertakes explicit actions through changes in government spending, taxes, the money supply, or interest rates to stabilize the business cycle. Discretionary is also frequently used to modify income, spending, expenditures, or comparable terms to capture choices made over the use of income. Discretionary income, for example, is the amount of after-tax household income that can be used for either consumption spending or saving.
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POLITICAL BUSINESS CYCLES The notion that business cycles are caused by elected government leaders who manipulate the economy to achieve personal political goals, that is, to be re-elected and remain in office. The leaders stimulate the economy leading up to an election, creating a business-cycle expansion that ensures (they hope) re-election, they then induce a business-cycle contraction after the election to correct problems created by the pre-election stimulation. This explanation suggests that government is the source of business cycles are should not be allowed to implement discretionary stabilization policies.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time watching infomercials hoping to buy either a lazy Susan for you dining room table or a set of serrated steak knives, with durable plastic handles. Be on the lookout for door-to-door salesmen.
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This isn't me! What am I?
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Two and a half gallons of oil are needed to produce one automobile tire.
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"One day at a time - this is enough. Do not look back and grieve over the past, for it is gone: and do not be troubled about the future, for it has not yet come. Live in the present, and make it so beautiful that it will be worth remembering." -- Ida Scott Taylor, Author
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PHLX
Philiadelphia Stock Exchange
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