government coupons that can be used to purchase food
Women, Infants, and Children
provides help with nutrition and health care to low-income women, infants, and children up to age 5
progressive income tax
the tax rate is lower at lower incomes and higher for higher incomes
Earned income tax credit
gives tax credits and even cash payments to qualified workers
the federal reserve system (the fed)
Federal Open Market Committee
Makes the decisions that affect the economy as a whole by manipulating the money supply
controls the supply of money and the cost of borrowing money according to the needs of the economy
the rate the Fed charges member banks for loans
keeping a certain percentage of money in the Fed
open market operations
the purchase or sale of government bonds and treasury bills
year the Fed began
number of varieties of currency there were at once
Federal reserve act
the law that created the Federal Reserve System
number board of governors
the board of governors
number of regional banks
the regional banks
federal open market committee
the group that establishes the monetary policy
when the production of goods cannot keep up with the growth in demand therefore prices rise
when money for the supply and demand of goods decreases and prices fall
education, wealth, and discrimination
Reasons for income differences
Temporary assistance for needy families
when families loose someone, or they are disabled or absent, this group provides help temporarily.
Civil Rights Act of 1964
banned discrimination on the basis of gender, race, color, and national origin.
Teaches people skills that they can use for jobs
It is the central bank of the United States. It is the banker's bank; therefore it oversees all public banks.
it is designed to help blind, aged, and disabled people and provides cash for basic needs such has food, clothing, and shelter.
The payment people receive when they lend money or allow someone else to us their money. If there is an increase in the supply of money there are lower interest rates and if there is a decrease there are higher interest rates.
The rates banks are charged for loans. If there is an increase in the supply of money there are low discount rates, decrease high discount rates
If it is high there is less money to lend and if it is low there is more money to lend