| Term | Definition |
|---|
| Reaganomics | The federal economic polices of the Reagan administration, elected in 1981. These policies combined a monetarist fiscal policy, supply-side tax cuts, and domestic budget cutting. Their goal was to reduce the size of the federal government and stimulate economic growth. |
| Fiscal Policy | An attempt to use taxes and expenditures to affect the economy. |
| Budget Deficit vs Surplus | A situation in which the government spends more money than it takes in from taxes and fees. vs A situation in which the government takes in more money than it spends. |
| Monetary Policy | An attempt to alter the amount of money in circulation and the price of money (the interest rate) to affect the economy. |
| fiscal Year | The period from Oct. 1 to Sept. 30 for which government appropriations are made and federal books are kept. |
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