Chapter 4: Economic Issues- Taxing, Spending, and Budgeting

Created by lv7397 

Upgrade to
remove ads

11 terms

Mixed Economy

government and economy are mixed

Monetary Policy

A macroeconomic tool that seeks to use the supply of money in circulation to impact interest rates and inflation

Federal Reserve Board

The central baking authority in the US and the principal agent of monetary policy

Fiscal Policy

Tax policy, spending policy and debt policy used as tools to stabilize the economy

Deficit

occurs when government expenditures exceed revenues in a given fiscal year

Debt

accumulation over time of annual deficits

Demand Side Economics

Traditional, Keynesian economic theory that the economy is driven primarily by demand for goods and services

Supply Side Economics

Macroeconomic approach that emphasizes tax cuts and tax incentives to business in order to promote economic growth

Progressive

a tax system where there are tax brackets set and the more money made puts you in a higher % bracket

Regressive

Tax has greater impact on lower incomes

Flat Tax

Everyone's income group pays the same income tax

Please allow access to your computer’s microphone to use Voice Recording.

Having trouble? Click here for help.

We can’t access your microphone!

Click the icon above to update your browser permissions above and try again

Example:

Reload the page to try again!

Reload

Press Cmd-0 to reset your zoom

Press Ctrl-0 to reset your zoom

It looks like your browser might be zoomed in or out. Your browser needs to be zoomed to a normal size to record audio.

Please upgrade Flash or install Chrome
to use Voice Recording.

For more help, see our troubleshooting page.

Your microphone is muted

For help fixing this issue, see this FAQ.

Star this term

You can study starred terms together

NEW! Voice Recording

Create Set