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AP GOV CPHS CHAP 18
AP GOVT. CPHS CHAP. 18
| Question | Answer |
|---|---|
| Business Cycles | Fluctuation between expansion and recession that is a part of modern capitalist economies. |
| Laissez-Faire | A French term literally meaning "to allow to do, to leave alone." It is a hands-off governmental policy that is based on the belief that governmental involvement in the economy is wrong. |
| Interventionist State | Alternative to the laissez-faire state; the government takes an active role in guiding and managing the private economy. |
| Economic Regulation | Governmental regulation of business practices, industry rates, routes, or areas serviced by particular industries. |
| Social Regulation | Governmental regulation of the quality and safety of products as well as the conditions under which goods and services are produced. |
| Economic Stability | A situation in which there is economic growth, rising national income, high employment, and steadiness in the general level of prices. |
| Inflation | A rise in the general price levels of an economy. |
| Recession | A short-term decline in the economy that occurs as investment sags, production falls off, and unemployment increases. |
| Monetary Policy | A form of government regulation in which the nation's money supply and interest rates are controlled. |
| Money | A system of exchange for goods and services that includes currency, coins, and bank deposits. |
| Federal Reserve Board | A seven-member board that sets member banks' reserve requirements, controls the discount rate, and makes other economic decisions. |
| Reserve Requirements | Governmental requirements that a portion of member banks' deposits must be retained to back loans made. |
| Discount Rate | The rate of interest at which member banks can borrow money from their regional Federal Reserve Bank. |
| Open Market operations | The buying and selling of government securities by the Federal Reserve Bank in the securities market. |
| Fiscal Policy | Federal government policies on taxes, spending, and debt management, intended to promote the nation's macroeconomic goals, particularly with respect to employment, price stability, and growth. |
| Gross Domestic Product (GDP) | The total market value of all goods and services produced in a country during a year. |
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