the idea that the government should increase spending or cut taxes during economic downturns to boost demand and stimulate the economy.

an economic policy that focuses on cutting taxes, reducing government regulation, decreasing government spending and controlling inflation to control economic growth.

central bank of US, manages monetary policy by controlling interest rates and the money supply to keep the economy stable. (board of governors appointed by president confirmed by the senate, regional federal reserve banks (12) that carry out the policy)

actions by the federal reserve to control interest rates and the money supply to influence inflation, employment and economic growth.

government actions that change taxes and spending to influence the economy.

system where the government directly regulates or sets rules on businesses and the economy to control economic outcomes

supply side economics

the idea that cutting taxes and reducing regulation will encourage businesses to produce more goods and services which will help grow the economy.

measure that tracks the average change in prices over time for goods and services that consumers commonly buy, used to measure inflation

value of goods and services produced by an economy

mistake where poll questions focus on 1 specific economic issue which can influence or distort how people respond about the economy overall

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Question	Answer
Keynesian economics	the idea that the government should increase spending or cut taxes during economic downturns to boost demand and stimulate the economy.
Reaganomics	an economic policy that focuses on cutting taxes, reducing government regulation, decreasing government spending and controlling inflation to control economic growth.
federal reserve	central bank of US, manages monetary policy by controlling interest rates and the money supply to keep the economy stable. (board of governors appointed by president confirmed by the senate, regional federal reserve banks (12) that carry out the policy)
monetary policy	actions by the federal reserve to control interest rates and the money supply to influence inflation, employment and economic growth.
fiscal policy	government actions that change taxes and spending to influence the economy.
command and control	system where the government directly regulates or sets rules on businesses and the economy to control economic outcomes
supply side economics	the idea that cutting taxes and reducing regulation will encourage businesses to produce more goods and services which will help grow the economy.
consumer price index	measure that tracks the average change in prices over time for goods and services that consumers commonly buy, used to measure inflation
gdp	value of goods and services produced by an economy
focus error	mistake where poll questions focus on 1 specific economic issue which can influence or distort how people respond about the economy overall

Created by: Lilyhowes

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