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Economic_Policy

QuestionAnswer
1) Economic Policy the actions governments take in the economy
2) Federal Reserve the US' central bank that conducts eco research and releases publications
3) Mixed Economy eco system where the state/private sector directs the eco
4) Securities and Exchange Commission (SEC) regulates stock market, prevents corporate abuses related to sale/offering of security/corp. reporting
5) Minimum Wage lowest hourly, daily, monthly pay that employers legally pay their employees
6) Unemployment people without jobs that have tried to find work within the past four weeks
7) Inflation rise in prices of goods/services in an economy over time
8) Office of Management and Budget (OMB) assists the President in preparing the federal budget and supervises the Exec Branch admin
9) Monetary Policy country controls the supply of money to promote eco growth/stability
10) Fiscal Policy gov uses taxation to influence the eco
11) Discretionary Spending gov spends through appropriation bills
12) Non-Discretionary Spending gov spending required due to a budget, contract, or commitment
13) National Debt central gov debt owed
14) Deficit short in revenue
15) World Trade Organization supervises and liberalizes international trade
16) Antitrust Policy aim is to reduce monopolies
Theories 17) Monetarism emphasizes gov controlling the amount of money in circulation
18) Keynesianism advocates a mixed eco - mostly private, public sector is significant though
19) Supply-side Economics argues eco growth is most effective when barriers are lowered to create goods/services
20) Planning process of making/maintaining a plan
Created by: k_kirk
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