Polyglot is someone who has the ability to speak in several languages. There is no agreement yet, how many languages an individual must master to be called polyglot. Some experts claim it must be four or more languages because speakers of two or three languages are usually called bilingual and trilingual.
What's it: Transfer payments are payments by the government to the private sector without having to pay for the goods and services provided.
What's it: National debt is money owed by the government to its creditors. The government owes money to cover the budget deficit, where
What's it: Discretionary fiscal policy is a deliberate government policy to influence the economy by changing its spending and income. It is
What's it: An induced tax is a tax in which the rate increases and decreases depending on the taxpayer's ability. So, when our income or wealth
What's it: A balanced budget is when a government's spending equals its revenue. Therefore, there is no surplus or deficit. So, the government
What's it: A budget surplus is when the government plans to spend less than it earns. In other words, the government's budgeted revenue is
What's it: A tax is a mandatory levy by the government on an individual or other entity. There are many variations, including income tax, value
What's it: A government budget is a government's planned expenditures and revenues over a specific period, usually one year. Government revenue