Government as Regulator of the Economy
Government as a Protector of the Enviornment
Government as a Promoter of Economic Intrests
Fiscal Policy as an Economic Tool
Monetary Policy as an Economic Tooly
100
What is the definition of economy?
A system for the for the exchange of goods and services between the producers of those goods and services between the producers of those goods and services and the consumers of them.
100
What year held the very first Earth Day?
1970
100
What 3 major economic interest does government promote?
Business. Labor. Agriculture.
100
economic depression was
A very severe and sustained economic downturn. Depressions are rare in the United States; the last one was in the 1930s.
100
Who was the American economist who helped devise the theory of monetary policy; arguing that control of the money supply is the key to sustaining a healthy economy?
Milton Friedman
200
What is deregulation?
The rescinding (shrinking) of excessive government regulations for the purpose of improving economic efficiency.
200
What environmental issue receives the most attention?
Global Warming
200
What is america's businesses biggest booster?
Government.
200
economic recession was
A moderate but sustained downturn in the economy. Recessions are part of the economy’s normal cycle of ups and downs.
200
Control of the money supply rest with the
Federal Reserve System “Fed”
300
What is Laissez-fair economics?
A classic economic philosophy holding that owners of businesses should be allowed to make their own production and distribution decisions without government regulation or control.
300
What year was the EPA created?
1970
300
What did the homestead act of 1862 do?
Opened government owned lands to settlement.
300
Fiscal Policy is
A tool of economic management by which government can attempt to maintain a stable economy through its taxing and spending policies
300
What is a general increase in the average level of prices of goods and services.
Inflation
400
Who is considered to be the father of economics?
Adam Smith
400
What was the name of the First National park in the United States?
Yellowstone
400
The Federal government gave 160 Acres of lands to families that did what?
Staked a claim, built a house, and farmed the land for five years.
400
A form of fiscal policy that emphasizes “supply” (production).
Supply Side Economics
400
The policies of the Fed’s board are carried out through how many regional Federal Reserve Bank?
12 regional Federal Reserve Bank.
500
What is an example of externalities?
water pollution, air pollution
500
What is the name of the book Rachel Carson wrote that helped launch environmental movement?
Silent Spring
500
The National Labor Relations Act of 1935 gave..
Workers the right to bargain collectively and prohibited business from disrupting union activities or discriminating union employers.
500
capital-gains tax is
The tax that individuals pay on money gained from the sale of a capital asset, such as property or stocks.
500
Fed has become an instrument through which monetary policy is applied. It decides how much money to add to or to subtract from the economy. For that it use three methods or mechanisms. What are the three methods?
Raise or lower percentage the interest rate that member banks pay when they borrow money Raise or lower percentage of funds that member banks are required to hold. The buying and selling of government securities.
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