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Economicated Policy

Economic Policy

QuestionAnswer
1. Economic Policy A government policy for maintaining economic growth and tax revenues
2. Federal Reserve The federal banking authority in the US that performs the functions of a central bank and is used to implement the country's monetary policy, providing a national system of reserve cash available to banks
3. Mixed Economy An economic system combining private and public enterprise
4. Securities and Exchange Commission An independent federal agency that oversees the exchange of securities to protect investors
5. Minimum Wage The lowest wage permitted by law or by a special agreement
6. Unemployment The number or proportion of unemployed people
7. Inflation A general increase in prices and fall in the purchasing value of money
8. Office of Management and Budget The executive agency that advises the President on the federal budget
9. Monetary Policy The process by which the monetary authority of a country controls the supply of money, often targeting a rate of interest to attain a set of objectives oriented towards the growth and stability of the economy
10. Fiscal Policy A government policy for dealing with the budget, especially with taxation and borrowing
11. Discretionary Spending A category of spending in which a government can make choices on how to distribute its money
12. Non-Discretionary Spending Spending that's required by law, such as Social Security or Medicare
13. National Debt The total amount of money that a country's government has borrowed, by various means
14. Deficit An excess of expenditure or liabilities over income or assets in a given period
15. World Trade Organization An international body founded in 1995 to promote international trade and economic development by reducing tariffs and other restrictions
16. Antitrust Policy Collection of national and state laws aimed at preventing a single business from gaining monopoly control over a particular sector of the economy
17. Monetarism The theory or practice of controlling the supply of money as the chief method of stabilizing the economy
18. Keynesianism the economic theories of John Maynard Keynes who advocated government monetary and fiscal programs intended to stimulate business activity and increase employment
19. Supply-Side Economics Economic theory that stresses the costs of production as a means of stimulating the economy; advocates policies that raise capital and labor output by increasing the incentive to produce
20. Planning Any directing or planning of economic activity by the state, in an attempt to achieve specific economic or social outcomes
Created by: 1212781
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