{"id":1044,"date":"2015-05-12T18:31:54","date_gmt":"2015-05-12T18:31:54","guid":{"rendered":"https:\/\/courses.candelalearning.com\/masterymacro1xngcxmaster\/?post_type=chapter&#038;p=1044"},"modified":"2018-05-14T21:13:05","modified_gmt":"2018-05-14T21:13:05","slug":"why-it-matters-10","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/oldwestbury-wm-macroeconomics\/chapter\/why-it-matters-10\/","title":{"raw":"Why It Matters: Fiscal Policy","rendered":"Why It Matters: Fiscal Policy"},"content":{"raw":"<h2>Why describe the uses and implications of fiscal policy?<\/h2>\r\n[caption id=\"attachment_2116\" align=\"aligncenter\" width=\"538\"]<a href=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images-archive-read-only\/wp-content\/uploads\/sites\/1294\/2015\/06\/03181531\/Federal-Budget.jpg\" target=\"_blank\" rel=\"noopener\"><img class=\"wp-image-2116\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images-archive-read-only\/wp-content\/uploads\/sites\/1294\/2015\/06\/03181531\/Federal-Budget.jpg\" alt=\"Image with text stating, &quot;Fiscal Year 2016: BUDGET of the U.S. Government&quot;\" width=\"538\" height=\"379\" \/><\/a> <strong>Figure 1.\u00a0<\/strong>The budget is the financial representation of the priorities of the government, reflecting historical debates and competing economic philosophies.[\/caption]\r\n\r\nThis module has great practical knowledge for you. This is not primarily because it\u2019s important for the course, though it is. Rather, this model presents information that every citizen (or at least every voter) should know. The topic of the module is how government budgets affect the economy. The material is divided into two categories: first, understanding government budgets at the federal, state and local levels, and second, learning how government spending and taxes affect different parts of the economy as well as the economy as a whole. You'll consider questions like:\r\n<ul>\r\n \t<li>People often complain about taxes, but what proportion of tax revenue comes from individuals, what proportion comes from corporations, and what proportion comes from foreigners? What proportion of tax revenue is based on income?\r\n\r\n[caption id=\"attachment_2119\" align=\"alignright\" width=\"231\"]<a href=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images-archive-read-only\/wp-content\/uploads\/sites\/1294\/2015\/06\/03181534\/8265067727_7eda0e7457_z.jpg\" target=\"_blank\" rel=\"noopener\"><img class=\"wp-image-2119\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images-archive-read-only\/wp-content\/uploads\/sites\/1294\/2015\/06\/03181534\/8265067727_7eda0e7457_z.jpg\" alt=\"Photograph of 1040 forms from the U.S. Department of the Treasury.\" width=\"231\" height=\"154\" \/><\/a> <strong>Figure 2.<\/strong> 1040 &amp; Schedule D.[\/caption]<\/li>\r\n \t<li>What proportion is based on property?<\/li>\r\n \t<li>What proportion is based on our purchases?<\/li>\r\n \t<li>What does government spend our tax dollars on?<\/li>\r\n \t<li>How much of the federal budget is spent on \u201cwelfare\u201d type expenditures?<\/li>\r\n \t<li>How much is spent on foreign aid?<\/li>\r\n \t<li>How much is spent making payments on the national debt?<\/li>\r\n \t<li>What do states and local areas spend their budgets on?<\/li>\r\n \t<li>What is the difference between the federal deficit and the public or national debt?<\/li>\r\n \t<li>Are tax cuts good or bad for the economy?\u00a0In what ways are they good or bad?<\/li>\r\n \t<li>Is government spending good or bad for the economy?\u00a0Is all government spending the same in this respect?<\/li>\r\n<\/ul>\r\nThese are questions that are relevant every time we have an election, whether it is at the national, state or local levels. These are also questions that most Americans can\u2019t answer correctly. How can you vote intelligently if you can\u2019t accurately evaluate the candidate\u2019s positions on government budgets? This module will help you become a more intelligent voter.\r\n\r\n[caption id=\"attachment_2117\" align=\"aligncenter\" width=\"813\"]<a href=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images-archive-read-only\/wp-content\/uploads\/sites\/1294\/2015\/06\/03181533\/Govt-Spending-collage.jpg\"><img class=\"wp-image-2117\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images-archive-read-only\/wp-content\/uploads\/sites\/1294\/2015\/06\/03181533\/Govt-Spending-collage-1024x573.jpg\" alt=\"Govt Spending Collage. A photograph of a soldier guarding the tomb of the unknown soldier, an old food stamp, a description of the WIC program, and a Social Security card for &quot;Jane Doe&quot;\" width=\"813\" height=\"455\" \/><\/a> <strong>Figure 3<\/strong>. Government Spending Collage. <a href=\"https:\/\/www.flickr.com\/photos\/tonythemisfit\/3557345656\/in\/photolist-6qmjVN-5inNZu-4kTySB-cXmTZC-bkoGox-3CKKEE-a7axcK-5tWobB-npS9Fh-sRs3Xq-7eKXWM-6Fy89g-64R74M-B3oR1-3am2c-7Pux9K-6NwnsG-B8V6i-7TNJu6-7n6aqb-79gakp-B8XWw-oz2R1z-eSBVhi-59ngDA-63DeCQ-9M3j1J-7yJvB6-7VDBE2-5NaNao-jcPctS-5DcmDw-rrPNFG-7N891f-34M4nu-B9mWX-EhpKz-j9FnVQ-j2Qdu6-iv3uXZ-9JFdZP-8MWajS-6f5Kxc-5woY2G-34M4uE-nwVENd-fCCUHY-6868BM-B9fcM-6fEhfS\" target=\"_blank\" rel=\"noopener\">Tomb of the Unknown Soldier<\/a> by Tony Fischer, <a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\" target=\"_blank\" rel=\"noopener\">CC-BY<\/a>. <a href=\"https:\/\/www.flickr.com\/photos\/donkeyhotey\/5639011991\/in\/photolist-9AipNF-ayZi8V-bxDhoE-8JkcMH-9AijLg-9N27Ls-iTWXqp-9powYg-9d9K8x-9bNn1T-4aZstN-dfrMXk-9GhTHc-7HWKz-m5mGWi-2JR3zC-dh3fLg-deo1wf-ap9TvS-fpXWgZ-6kZfRj-6Fg9V-k3TQVo-8Fk7Li-76wq6z-9fd3VH-8K6Kn1-76Atn9-dwG4TH-9d9L2Z-8Qi1rK-pYoB9W-de5FdD-cTDFpE-8WppwN-9F8PCQ-dwM648-6v9vG4-oZYtDi-cTWSxy-f6WdBU-9ERAZg-8YbGz1-8Lacuv-ePjKVA-eqe59-6amQrk-bWVPMe-6MpPtE-9nXiER\" target=\"_blank\" rel=\"noopener\">Social Security Card<\/a> by Donkeyhotey, <a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\" target=\"_blank\" rel=\"noopener\">CC-BY<\/a>. <a href=\"https:\/\/www.flickr.com\/photos\/chrstphre\/5489717927\/in\/photolist-9n7eT6-6XBx12-8FktXL-a4Qq9P-7nZ1Fr-3Dc3T-2Qy7AN-iNpH9k-nMQ1EV-4rQryn-5Mw8Ye-nL5yqC-nvCvZ3-HfYox-mbRodV-4rUuEw-nNT7kc-pbv8AN-aqjJoU-9HpGQR-4rUuPf-2Y7w5-o54gg6-g9fuRM-a5Hxyx-63WRnp-9DU5c8-7o3UYy-6XFzow-fPsqY3-fPsqQC-fPaSSg-655MDg-655MBT-655MEK-8kV3bS-8pqMSv-9HvHeq-9HsRvi-9HsRsi-8pdxEF-6riNbP-awq7zB-4Koq5N-6KvkE2-ejHQFF-gBMVPQ-sLKHS7-8Fhija-8Fhi8D\" target=\"_blank\" rel=\"noopener\">Old Style Food Stamps<\/a>\u00a0by chrstphre campbell, <a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\" target=\"_blank\" rel=\"noopener\">CC-BY<\/a>. <a href=\"https:\/\/www.flickr.com\/photos\/austinfoodbank\/6926601311\/in\/photolist-by5Dfx-Lcsyt-pyF1BZ-2sbBUN-9eA41P-6Rguh-bxMA7a-3au1Di-3apVga-by5Dha-6uArK4-Wghju-6tab9-4C8j5J-4C3WAX-4C89KU-4C81B9-4oznJP-3CXXhY-6RgtU-3atcf3-6Rgvj-6Rgu8-qMKg3M-2LQEVG-4LsYZM-4Lx833-6Rgvr-6Rguk-6RgtW-a67vPW-5cPSAD-hAjNVS-rE1T6v-rny1Yo-qHjXxT-rE1Sza-rnwVAQ-rE1ScX-qHjWRc-rBPGM3-rE7k6k-rnEjda-rnwUwW-rE7jwV-qH7BrW-rE1QBT-rE7iPc-rnEi2H-rBPF5q\" target=\"_blank\" rel=\"noopener\">WIC<\/a> by Capital Area Food Bank of Texas, <a href=\"https:\/\/creativecommons.org\/licenses\/by-nd\/2.0\/\" target=\"_blank\" rel=\"noopener\">CC-BY-ND<\/a>.[\/caption]","rendered":"<h2>Why describe the uses and implications of fiscal policy?<\/h2>\n<div id=\"attachment_2116\" style=\"width: 548px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images-archive-read-only\/wp-content\/uploads\/sites\/1294\/2015\/06\/03181531\/Federal-Budget.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-2116\" class=\"wp-image-2116\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images-archive-read-only\/wp-content\/uploads\/sites\/1294\/2015\/06\/03181531\/Federal-Budget.jpg\" alt=\"Image with text stating, &quot;Fiscal Year 2016: BUDGET of the U.S. Government&quot;\" width=\"538\" height=\"379\" \/><\/a><\/p>\n<p id=\"caption-attachment-2116\" class=\"wp-caption-text\"><strong>Figure 1.\u00a0<\/strong>The budget is the financial representation of the priorities of the government, reflecting historical debates and competing economic philosophies.<\/p>\n<\/div>\n<p>This module has great practical knowledge for you. This is not primarily because it\u2019s important for the course, though it is. Rather, this model presents information that every citizen (or at least every voter) should know. The topic of the module is how government budgets affect the economy. The material is divided into two categories: first, understanding government budgets at the federal, state and local levels, and second, learning how government spending and taxes affect different parts of the economy as well as the economy as a whole. You&#8217;ll consider questions like:<\/p>\n<ul>\n<li>People often complain about taxes, but what proportion of tax revenue comes from individuals, what proportion comes from corporations, and what proportion comes from foreigners? What proportion of tax revenue is based on income?\n<div id=\"attachment_2119\" style=\"width: 241px\" class=\"wp-caption alignright\"><a href=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images-archive-read-only\/wp-content\/uploads\/sites\/1294\/2015\/06\/03181534\/8265067727_7eda0e7457_z.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-2119\" class=\"wp-image-2119\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images-archive-read-only\/wp-content\/uploads\/sites\/1294\/2015\/06\/03181534\/8265067727_7eda0e7457_z.jpg\" alt=\"Photograph of 1040 forms from the U.S. Department of the Treasury.\" width=\"231\" height=\"154\" \/><\/a><\/p>\n<p id=\"caption-attachment-2119\" class=\"wp-caption-text\"><strong>Figure 2.<\/strong> 1040 &amp; Schedule D.<\/p>\n<\/div>\n<\/li>\n<li>What proportion is based on property?<\/li>\n<li>What proportion is based on our purchases?<\/li>\n<li>What does government spend our tax dollars on?<\/li>\n<li>How much of the federal budget is spent on \u201cwelfare\u201d type expenditures?<\/li>\n<li>How much is spent on foreign aid?<\/li>\n<li>How much is spent making payments on the national debt?<\/li>\n<li>What do states and local areas spend their budgets on?<\/li>\n<li>What is the difference between the federal deficit and the public or national debt?<\/li>\n<li>Are tax cuts good or bad for the economy?\u00a0In what ways are they good or bad?<\/li>\n<li>Is government spending good or bad for the economy?\u00a0Is all government spending the same in this respect?<\/li>\n<\/ul>\n<p>These are questions that are relevant every time we have an election, whether it is at the national, state or local levels. These are also questions that most Americans can\u2019t answer correctly. How can you vote intelligently if you can\u2019t accurately evaluate the candidate\u2019s positions on government budgets? This module will help you become a more intelligent voter.<\/p>\n<div id=\"attachment_2117\" style=\"width: 823px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images-archive-read-only\/wp-content\/uploads\/sites\/1294\/2015\/06\/03181533\/Govt-Spending-collage.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-2117\" class=\"wp-image-2117\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images-archive-read-only\/wp-content\/uploads\/sites\/1294\/2015\/06\/03181533\/Govt-Spending-collage-1024x573.jpg\" alt=\"Govt Spending Collage. A photograph of a soldier guarding the tomb of the unknown soldier, an old food stamp, a description of the WIC program, and a Social Security card for &quot;Jane Doe&quot;\" width=\"813\" height=\"455\" \/><\/a><\/p>\n<p id=\"caption-attachment-2117\" class=\"wp-caption-text\"><strong>Figure 3<\/strong>. Government Spending Collage. <a href=\"https:\/\/www.flickr.com\/photos\/tonythemisfit\/3557345656\/in\/photolist-6qmjVN-5inNZu-4kTySB-cXmTZC-bkoGox-3CKKEE-a7axcK-5tWobB-npS9Fh-sRs3Xq-7eKXWM-6Fy89g-64R74M-B3oR1-3am2c-7Pux9K-6NwnsG-B8V6i-7TNJu6-7n6aqb-79gakp-B8XWw-oz2R1z-eSBVhi-59ngDA-63DeCQ-9M3j1J-7yJvB6-7VDBE2-5NaNao-jcPctS-5DcmDw-rrPNFG-7N891f-34M4nu-B9mWX-EhpKz-j9FnVQ-j2Qdu6-iv3uXZ-9JFdZP-8MWajS-6f5Kxc-5woY2G-34M4uE-nwVENd-fCCUHY-6868BM-B9fcM-6fEhfS\" target=\"_blank\" rel=\"noopener\">Tomb of the Unknown Soldier<\/a> by Tony Fischer, <a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\" target=\"_blank\" rel=\"noopener\">CC-BY<\/a>. <a href=\"https:\/\/www.flickr.com\/photos\/donkeyhotey\/5639011991\/in\/photolist-9AipNF-ayZi8V-bxDhoE-8JkcMH-9AijLg-9N27Ls-iTWXqp-9powYg-9d9K8x-9bNn1T-4aZstN-dfrMXk-9GhTHc-7HWKz-m5mGWi-2JR3zC-dh3fLg-deo1wf-ap9TvS-fpXWgZ-6kZfRj-6Fg9V-k3TQVo-8Fk7Li-76wq6z-9fd3VH-8K6Kn1-76Atn9-dwG4TH-9d9L2Z-8Qi1rK-pYoB9W-de5FdD-cTDFpE-8WppwN-9F8PCQ-dwM648-6v9vG4-oZYtDi-cTWSxy-f6WdBU-9ERAZg-8YbGz1-8Lacuv-ePjKVA-eqe59-6amQrk-bWVPMe-6MpPtE-9nXiER\" target=\"_blank\" rel=\"noopener\">Social Security Card<\/a> by Donkeyhotey, <a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\" target=\"_blank\" rel=\"noopener\">CC-BY<\/a>. <a href=\"https:\/\/www.flickr.com\/photos\/chrstphre\/5489717927\/in\/photolist-9n7eT6-6XBx12-8FktXL-a4Qq9P-7nZ1Fr-3Dc3T-2Qy7AN-iNpH9k-nMQ1EV-4rQryn-5Mw8Ye-nL5yqC-nvCvZ3-HfYox-mbRodV-4rUuEw-nNT7kc-pbv8AN-aqjJoU-9HpGQR-4rUuPf-2Y7w5-o54gg6-g9fuRM-a5Hxyx-63WRnp-9DU5c8-7o3UYy-6XFzow-fPsqY3-fPsqQC-fPaSSg-655MDg-655MBT-655MEK-8kV3bS-8pqMSv-9HvHeq-9HsRvi-9HsRsi-8pdxEF-6riNbP-awq7zB-4Koq5N-6KvkE2-ejHQFF-gBMVPQ-sLKHS7-8Fhija-8Fhi8D\" target=\"_blank\" rel=\"noopener\">Old Style Food Stamps<\/a>\u00a0by chrstphre campbell, <a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\" target=\"_blank\" rel=\"noopener\">CC-BY<\/a>. <a href=\"https:\/\/www.flickr.com\/photos\/austinfoodbank\/6926601311\/in\/photolist-by5Dfx-Lcsyt-pyF1BZ-2sbBUN-9eA41P-6Rguh-bxMA7a-3au1Di-3apVga-by5Dha-6uArK4-Wghju-6tab9-4C8j5J-4C3WAX-4C89KU-4C81B9-4oznJP-3CXXhY-6RgtU-3atcf3-6Rgvj-6Rgu8-qMKg3M-2LQEVG-4LsYZM-4Lx833-6Rgvr-6Rguk-6RgtW-a67vPW-5cPSAD-hAjNVS-rE1T6v-rny1Yo-qHjXxT-rE1Sza-rnwVAQ-rE1ScX-qHjWRc-rBPGM3-rE7k6k-rnEjda-rnwUwW-rE7jwV-qH7BrW-rE1QBT-rE7iPc-rnEi2H-rBPF5q\" target=\"_blank\" rel=\"noopener\">WIC<\/a> by Capital Area Food Bank of Texas, <a href=\"https:\/\/creativecommons.org\/licenses\/by-nd\/2.0\/\" target=\"_blank\" rel=\"noopener\">CC-BY-ND<\/a>.<\/p>\n<\/div>\n\n\t\t\t <section class=\"citations-section\" role=\"contentinfo\">\n\t\t\t <h3>Candela Citations<\/h3>\n\t\t\t\t\t <div>\n\t\t\t\t\t\t <div id=\"citation-list-1044\">\n\t\t\t\t\t\t\t <div class=\"licensing\"><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Original<\/div><ul class=\"citation-list\"><li><strong>Authored by<\/strong>: Steven Greenlaw and Lumen Learning. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em><\/li><\/ul><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Shared previously<\/div><ul class=\"citation-list\"><li>1040. <strong>Authored by<\/strong>: Chris Potter and ccPix. <strong>Located at<\/strong>: <a target=\"_blank\" href=\"https:\/\/www.flickr.com\/photos\/86530412@N02\/8265067727\">https:\/\/www.flickr.com\/photos\/86530412@N02\/8265067727<\/a>. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em><\/li><li>The United States Federal Budget caption. <strong>Authored by<\/strong>: Wikipedia. <strong>Located at<\/strong>: <a target=\"_blank\" href=\"https:\/\/en.wikipedia.org\/wiki\/United_States_federal_budget\">https:\/\/en.wikipedia.org\/wiki\/United_States_federal_budget<\/a>. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by-sa\/4.0\/\">CC BY-SA: Attribution-ShareAlike<\/a><\/em><\/li><\/ul><\/div>\n\t\t\t\t\t\t <\/div>\n\t\t\t\t\t <\/div>\n\t\t\t <\/section>","protected":false},"author":969,"menu_order":1,"template":"","meta":{"_candela_citation":"[{\"type\":\"original\",\"description\":\"\",\"author\":\"Steven Greenlaw and Lumen Learning\",\"organization\":\"\",\"url\":\"\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"\"},{\"type\":\"cc\",\"description\":\"1040\",\"author\":\"Chris Potter and ccPix\",\"organization\":\"\",\"url\":\"https:\/\/www.flickr.com\/photos\/86530412@N02\/8265067727\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"\"},{\"type\":\"cc\",\"description\":\"The United States Federal Budget caption\",\"author\":\"Wikipedia\",\"organization\":\"\",\"url\":\"https:\/\/en.wikipedia.org\/wiki\/United_States_federal_budget\",\"project\":\"\",\"license\":\"cc-by-sa\",\"license_terms\":\"\"}]","CANDELA_OUTCOMES_GUID":"ee2c569a-9365-4c7a-99ad-c94289ef8bf8","pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-1044","chapter","type-chapter","status-publish","hentry"],"part":187,"_links":{"self":[{"href":"https:\/\/courses.lumenlearning.com\/oldwestbury-wm-macroeconomics\/wp-json\/pressbooks\/v2\/chapters\/1044","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/courses.lumenlearning.com\/oldwestbury-wm-macroeconomics\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/courses.lumenlearning.com\/oldwestbury-wm-macroeconomics\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/oldwestbury-wm-macroeconomics\/wp-json\/wp\/v2\/users\/969"}],"version-history":[{"count":20,"href":"https:\/\/courses.lumenlearning.com\/oldwestbury-wm-macroeconomics\/wp-json\/pressbooks\/v2\/chapters\/1044\/revisions"}],"predecessor-version":[{"id":11146,"href":"https:\/\/courses.lumenlearning.com\/oldwestbury-wm-macroeconomics\/wp-json\/pressbooks\/v2\/chapters\/1044\/revisions\/11146"}],"part":[{"href":"https:\/\/courses.lumenlearning.com\/oldwestbury-wm-macroeconomics\/wp-json\/pressbooks\/v2\/parts\/187"}],"metadata":[{"href":"https:\/\/courses.lumenlearning.com\/oldwestbury-wm-macroeconomics\/wp-json\/pressbooks\/v2\/chapters\/1044\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/courses.lumenlearning.com\/oldwestbury-wm-macroeconomics\/wp-json\/wp\/v2\/media?parent=1044"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/oldwestbury-wm-macroeconomics\/wp-json\/pressbooks\/v2\/chapter-type?post=1044"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/oldwestbury-wm-macroeconomics\/wp-json\/wp\/v2\/contributor?post=1044"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/oldwestbury-wm-macroeconomics\/wp-json\/wp\/v2\/license?post=1044"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}