PUMP PRIMING
The action taken to stimulate an economy, usually during a recessionary period, through government spending, and interest rate and tax reductions. The term "pump priming" is derived from the operation of older pumps; a suction valve had to be primed with water so that the pump would function properly. As with these pumps, pump priming assumes that the economy must be primed to function properly once again. In this regard, government spending is assumed to stimulate private spending, which in turn should lead to economic expansion.
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The 7h district Federal Reserve Bank, which is located in Chicago.
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Deducting an individual’s standard of living in order to improve quality of life. The act presumes a tradeoff between standard of living incl ...
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