automatic stabilizer  an element of fiscal policy that changes automatically as income changes
crowding out  a drop in consumption or investment spending caused by government spending
discretionary fiscal policy  changes in government spending and taxation aimed at achieving a policy goal
progressive tax (progressive income tax)  a tax whose rate rises as income rises
transfer payment  the income transferred from one citizen, who is earning income, to another citizen
value-added tax(VAT)  a general sales tax collected at each stage of production