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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


occurs when government expenditures exceed revenues in a given fiscal year


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


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


Tax has greater impact on lower incomes

Flat Tax

Everyone's income group pays the same income tax

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