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Letter of transmittal
Comments on Teeters Current Problems in the Full Employment
Reply to Edward M Gramlichs comments by Robert C Vogel _____
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actual and potential actual GNP falls actual receipts actual to potential adjusted assumption automatic stabilization behavior of observed beneﬁts billion Budget Concepts coeﬁicient components contributions for social corporate proﬁt tax Council of Economic cyclical deﬁcit deﬁned Durbin-Watson statistics economic activity Economic Advisers employment tax base Environmental Financing Federal budget Federal full employment Federal Government Federal grants Federal method Federal receipts ﬁgures ﬁnance ﬁrst Fiscal Federalism ﬁscal policy ﬂuctuations full employment budget FULL EMPLOYMENT CONCEPT full employment receipts full employment revenues full employment surplus full employment tax gap between actual GNP deﬂator GNP falls short Gramlich growth rate increase indirect business taxes inﬂuence labor force loan ment multiple correlation observed tax rates off-budget agencies paper ployment potential GNP rate of growth rate of inﬂation ratio of actual reﬂect serial correlation signiﬁcantly social insurance speciﬁc stabilization policy tax receipts Teeters total receipts unemployment rate uniﬁed budget