Vocab
Taxes
Budget
Economy
Posse
100
keeps bank's money in the FED
What is reserve requirement?
100
type of tax based on ability to pay
What is progressive tax?
100
When both houses meet to agree on budget
What is reconciliation?
100
To influence the economy this policy controls the money supply
What is monetary policy?
100
This posse collects taxes and and checks taxes with audits
What is IRS?
200
member charge for loans
What is discount rate?
200
tax on stuff from dead people
What is estate tax?
200
expenditure required by law
What is uncontrollables?
200
This policy influences the economy through spending and taxes
What is fiscal policy?
200
This posse helps prez prepare budget
What is OMB?
300
gradual changes in spending in the budget
What incrementalism?
300
another name for tax credit or deductions to avoid paying taxes
What is loopholes?
300
October 1 to Sept 31
What is fiscal year?
300
This stat measures the total amount of goods and products produced in a year?
What is GNP?
300
This posse is the central banking system
What is the FED
400
Taxes on sales, manufacturing and good consumption
What is excise taxes?
400
like a tariff
What is custom duties?
400
Congressional benefits
What is entitlements?
400
This happens when the Fed buys bonds to put money back into the economy
What is open market operations?
400
This posse helps the prez and OMB in planning the budget
What is CEA?
500
financial tools like bonds and certificates that are a safe investment
What is securities?
500
What the government owes
What is national debt?
500
largest entitlement
What is Social Security?
500
This group controls the FED
What is Board of Governors?
500
This posse of Senators designed a law to force Congress and President to reduce budget deficits
Who is Gramm Rudman and Hollings?
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