Macro objectives
What is... deflation?
What is... the Interest Rate?
What are... Taxes?
An organization that engages in collective bargaining with an employer to protect workers' economic status and working conditions.
What is... a Labor Union?
The concept of fairness or evenness, is considered an economic objective.
What is... Equity?
The amount of money in circulation, as determined by the central bank. Known as M1.
What is... the Money Supply?
Total amount borrowed over the years by the government, that has not been repaid.
What is... (government/fiscal) Debt?
The transfer of a business, industry, or service from public to private ownership and control.
What is... Privatization?
What is... Structural Unemployment?
The role of the central bank to save commercial banks when they are at risk of going bankrupt.
What is... the Lender of Last Resort?
Fiscal policy measures that are intended to decrease Aggregate Demand (AD).
What is... Contractionary Fiscal Policy?
The belief that tax cuts for businesses and "the rich" benefit low-income households as well.
What is... Trickle-down Economics?
The self-reinforcing effect of poverty, wherein a set of factors and conditions make it difficult to escape without outside intervention.
What is... the Poverty Cycle?
The number of funds (%) that a bank or other financial institution must hold in reserve against their outstanding accounts.
What is... the Reserve Requirement/Ratio?
The neo-classical belief that a hands-off approach is best. Loosely translates to "Let it go".
What is... Laissez Faire?
The curve that models the relationship between tax rates and the amount of tax revenue collected by governments.
What is... the Laffer Curve?