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Gov Unit 4 Study Guide

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Federal Reserve

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Terms in this set (27)

Federal Reserve

the central bank of the United States

Government policy that attempts to manage the economy by controlling taxing and spending.

individual liberties

rights enjoyed by all people, such as life, liberty, and property

Keynesian economics

Theory based on the principles of John Maynard Keynes, stating that government spending should increase during business slumps and be curbed during booms.

An ideology that cherishes individual liberty and insists on minimal government, promoting a free market economy, a noninterventionist foreign policy, and an absence of regulation in moral, economic, and social life.