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ByrneNoah IV

AP American Government Economic Policy

QuestionAnswer
1 - Economic Policy Nat. govt.'s actions in the economy.
2 - Federal Reserve Maintains stable U.S. banking. +Controls interest rates
3 - Mixed Economy Combination of nat. govt. and private forces influencing the economy.
4 - Securities and Exchange Commission (SEC) Regulates stock market. +Reviews public company financial reports
5 - Minimum Wage Least amount /hr a worker may be paid. +Family members are not required to follow minimum wage
6 - Unemployment Measured in #s and %s how many Americans are jobless.
7 - Inflation Reduces a dollar's worth by increasing the number of dollars in circulation.
8 - Office of Management and Budget (OMB) Writes budget for the president's budget proposal.
9 - Monetary Policy How $ supply is handled by nat. govt. +either inflation, slow economy, or just right
10 - Fiscal Policy How nat. govt. gains and spends $.
11 - Discretionary Policy Policy determined on a case by case basis.
12 - Non-Discretionary Policy Inflexible, automatically occuring nat. govt. actions on the economy.
13 - National Debt How much the nat. govt. owes. +Currently exceeds $1.56*10^13
14 - Deficit Negative surplus. +Losing money
15 - World Trade Organization Deals with international trade.
16 - Antitrust Policy Policy of trustbusting. +Breaks up monopolies +encourages competition
17 - Monetarism Theory how inflation is bad. +Money supply should be regulated
18 - Keynesianism Policy of borrowing money to stimulate the economy, paying off the resulting debt with a later surplus.
19 - Supply-side economics Reduce regulations and taxes to increase $ made in the economy.
20 - Planning (in your book) Usually 18 mo. process of choosing how money will be spent in a fiscal year.
Created by: nbleage
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