Save
Busy. Please wait.
Log in with Clever
or
show password
Forgot Password?
Don't have an account?  Sign up 
Sign up using Clever
or
Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account. Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't Know
Remaining cards (0)
Know
0:00
edit
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Economic Policy

Economic Policies in America

QuestionAnswer
1-Economic Policy Refers to the actions that governments take in the economic field. It covers the systems for setting interest rates and government budget as well as the labor market, national ownership, and many other areas of government interventions into the economy.
2-Federal Reserve Federal body that regulates the money supply by controlling open-market operations; buying and selling of government securities; and establishing reserve requirements and the rate at which banks can borrow money from this system.
3-Mixed Economy It is an economic system in which both the state and private sector direct the economy, reflecting characteristics of both market economies and planned economies.Most mixed economies can be described as market economies with strong regulatory oversight.
4-Securities and Exchange Commission (SEC) Itis a federal agency which holds primary responsibility for enforcing the federal securities laws and regulating the securities industry, the nation's stock and options exchanges, and other electronic securities markets in the United States.
5-Minimum Wage It is the lowest wage at which workers may sell their labor. It varies by state.
6-Unemployment Term describing people without jobs and have actively sought work within the past four weeks. The rate today is 8.3% and has been decreasing.
7-Inflation It is a rise in the general level of prices of goods and services in an economy over a period of time. It can decrease the value of money.
8-Office of Management and Budget (OMB) Oversees congressional appropriations and responsible for the preparation of the massive federal budget which is submitted to the Congress in January of each year. The director is appointed with the consent of the Senate.
9-Monetary Policy Policy in which a country controls the supply of money, often targeting a rate of interest for the purpose of promoting economic growth and stability. The official goals usually include relatively stable prices and low unemployment.
10-Fiscal policy Policy that determines how the economy is managed as a result of government spending and borrowing, and the amount of money collected from taxes.
11-Discretionary Spending The portion of the budget left up to Congress to decide how to spend it. Such spending is usually authorized by Congress in another act.
12-Non-Discretionary Spending Spending that iss required by law -- Congress would have to change a law to change the spending. Examples: Social Security, Medicare and Medicaid. These programs have built-in cost of living increases every year.
13-National Debt The total amount of money that a country's government has borrowed. America's national debt is currently around 15 trillion dollars.
14-Deficit Amount by which a sum falls short of some reference amount. The U.S. uses _______ spending, which means to borrow more money than one can pay back.
15-World Trade Organization Organization in 1995 that intends to supervise and liberalize international trade. The organization deals with regulation of trade between member countries; it has a framework for creating trade agreements, dispute resolution process making members obey.
16-Antitrust Policy Law that promotes or maintains market competition by regulating anti-competitive conduct by companies. Ex: Sherman Act
17-Monetarism Philosophy that assumes inflation occurs when there is too much money chasing too few goods. It suggests that the right thing for govt. to do is have a steady, predictable increase in $ supply as rate about equal to growth in economy's productivity.
18-Keynesianism Economic philosophy that assumes the market will not automatically operate at a full-employment low-inflation level. It means that the govt. should create the right level of demad by putting and taking out money from the economy.
19-Supply-Side Economics An economic philosophy that holds that sharply cutting taxes will increase the incentive people have to work, save, and invest. Greater investments will lead to more jobs, a better economy, and more tax revenues for the govt.
20-Planning Belef that government should plan some part of the country's economic activity. Example: price and wage control.
Created by: byrnekara
Popular American Government sets

 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
Retries:
restart all cards