government Word Scramble
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| Question | Answer |
| Government policies | 1. Monetary policy 2. Exchange rate 3. Fiscal policy 4. Market intervention 5. Legislation |
| Monetary policy | This is the government changing of revenues ie) taxation or spending, or both. I |
| Uses of monetary policy | 1. Encourage investment 2. Redistribute wealth 3. invest in infrastructure |
| Fiscal policy | Done by the ECB 1. Interest rates 2. supply of money 3. Availability of credit |
| Aim of fiscal policy | Achieve price stability and economic growth |
| Exchange rate | 1. Devaluation (weakening of one currency against another to increaese competitiveness) 2. Revaluation (strengthening of on currency against another) |
| Legislation | Laws passed by a government to: 1.Restrict monopolies and oligopolies 2. Control industries ie) Banking 3. protect the consumer 4. set a minimum wage |
| Market intervention | The government can become a competitor or the sole participant in an industry. Some unprofitable yet socially desirable services only exist due to the government ie) Bus routes in West |
| Economic aims of the government | Trade balance Inflation (control) Growth (sustained) Employment Redistribution of wealth Regional development Adequate infrastructure Public finances |
| Economic growth | an increase in the income and standard living or people in an economy with no change to the structure of society |
| Economic development | An increase in the standard of living, income and output of people in an economy accompanied by a change in the structure of society |
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