Create an account
a law, rule, statute, or edcit that expresses the government's goals and provides for rewards and punishments to promote their attainment
the existence in a market of a single firm that provides all the goods and services of that market; the absence of competition
the right of the government to take private property for public use, with reasonable compensation awarded for the property
a national policy, also known as squatting, that permitted people to gain ownership of property by occupying public or unclaimed land, living on it for a specified period of time, and making certain minimal improvements on it
funds given by Congress to states and localities that are earmarked by law for specific categories or purposes
governmental grants of cash or other valuable commodities such as land to individuals or organizations. Subsidies can be used to promote activities desired by the government, reward political support, or buy off political opposition
the power of government to set conditions on companies seeking to sell goods or services to government agencies
a legistlative practice wherein reciprocal agreements are made between legislators, usually in voting for or against a bill. In contrast to bargaining, logrolling unites parties that have nothing in common but their desire to exchange support
the policy of reducing or eliminating regulatory restraints on the conduct of individuals or private institutions
a particular use of governmental power in which the government adopts rules imposing restrictions on the conduct of private citizens
efforts to regulate the economy through manipulation of the supply of money and credit. America's most powerful institution in the area of monetary policy is the Federal Reserve Board.
Federal Reserve System (Fed)
Consisting of twelve Federal Reserve Banks, the Fed facilitates the exchanges of cash, checks and credit; it regulates the member banks; and it uses monetary policies to fight inflation and deflation
the interest rate charged by the Federal Reserve when commercial banks borrow to expand their lending operationsl. The discount rate is an effective tool of monetary policy.
the amount of liquid assets and ready cash that the Federal Reserve requires banks to hold to meet depositors' demands for their money. The ration fluctuates from above to below 20 percents of all deposits, with the rest being available for new loans
the process whereby the Federal Open Market Committee of the Federal Reserve buys and sells government securities and the like to help finance government operations and loosen or tighten the total amount of credit circulating in the economy
federal funds rate
the interest rate on loans between banks that the Federal Reserve Board influences by affecting the supply of money available
policy of redistribution
an objective of the graduated income tax whereby revenue is raised in such a way as to reduce the disparity of wealth between the lowest and highest income brackets
Budgetary items that are beyond the control of budgetary committees and can be controlled only by substantive legislative action in Congess. Some uncontrollables, such as the interest on the debt, are beyond the control of Congress because the terms of payments are set in contracts
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