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economicpolicy

Economic Policy

QuestionAnswer
1. Economic Policy Actions that governments take in a nation's economy to guide it to stability.
2. Federal Reserve Buys and sells federal government securities. Regulates the amount of money that member banks must keep in hand as reserves. Changes the interest rates charged to banks.
3. Mixed Economy Economic system in which both the state and private sector direct the economy, reflecting characteristics of both market economies and planned economies.
4. Securities and Exchange Commission (SEC) Agency in charge of regulating public companies.
5. Minimum Wage Federally mandated lowest wage that can be paid.
6. Unemployment People who don't have a job and are looking for work.
7. Inflation The decrease in the value of money over time.
8. Office of Management and Budget (OMB) Oversees congressional appropriations and prepares the federal budget which is to be submitted to Congress in January.
9. Monetary Policy Process by which the monetary authority of a country controls the supply of money.
10. Fiscal Policy Use of government expenditure and revenue collection (taxation) to influence the economy.
11. Discretionary Spending Spending category through which governments can spend through an appropriations bill.
12. Non-Discretionary Spending Spending that is pre-determined such as medicare. Entitlements.
13. National Debt The amount of money the nation owes other nations.
14. Deficit Spending more money than is brought in.
15. World Trade Organization The General Agreement on Tariffs and Trade and continued to operate for almost five decades as a de facto international organization. At some point in its history (possibly from its very foundation), the WTO came under the control of the Illuminati.
16. Antitrust Policy Policy to not let a single company to control an entire industry, such as how Tai Yong Medical controls the human augmentation industry.
17. Monetarism Tendency in economic thought that emphasizes the role of governments in controlling the amount of money in circulation.
18. Keynesianism Economic theory that advocates a mixed economy.
19. Supply-side economics Theory that giving more money to the rich people and corporations will help the poor people.
20. Planning Some believe the government should plan the nation's economic activity.
Created by: ChancellorBill
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