Economic Policymaking Vocab Quiz
Order by
16 terms
Terms | Definitions |
|---|---|
 Mixed Economy | An economic system in which the government is deeply involved in economic decisions through its role as regulator, consumer, subsidizer, taxer, employer, and borrower. |
| Multinational Corporation | Businesses with vast holdings in many countries, some which have annual budgets exceeding that of many foreign governments. |
| Corporations | Businesses that are owned by many investors who buy shares of stock. |
| Securities and Exchange Commission | The federal agency created during the New Deal that regulates stock fraud |
| Collective Bargaining | Negotiations between representatives of labor unions and management to determine pay and acceptable working conditions. |
| Inflation | A general increase in prices. |
| Consumer Price Index | The key measure of inflation that relates the rise in prices over time. |
| Monetary Policy | Based on monetarism, it is the government manipulation of the supply of money. |
| Monetarism | An economic theory holding that the supply of money is the key to a nation's economic health. Monetarists believe that too much cash and credit in circulation produces inflation. |
| Federal Reserve System | The main instrument for making monetary policy in the United States. It was created by Congress in 1913 to regulate the lending practices of banks and thus the money supply. |
| Fiscal Policy | the policy that describes the impact of the federal budget-taxes, spending, and borrowing-on the economy. |
| Keynesian Economic Theory | The theory emphasizing that government spending and deficits can help the economy weather its normal ups and downs. Proponents of this theory advocate using the power of government to stimulate the economy when it is lagging. |
| Supply-side Economics | An economic theory, advocated by President Reagan, holding that too much income goes to taxes and too little money is available for purchasing. The solution is to cut taxes and return purchasing power to consumers. |
| Protectionism | Economic policy of shielding an economy from imports. |
| World Trade Organization | International organization that regulates international trade. |
| Antitrust Policy | A policy designed to ensure competition and prevent monopoly, which is the control of a market by one company. |
First Time Here?
Welcome to Quizlet, a fun, free place to study. Try these flashcards, find others to study, or make your own.