Government's Role
The economic failure of the Articles of Confederation was their inability to regulate this.
Commerce
People make production choices based on what has always been done in this type of economy.
Traditional
This kind of tax is one everyone pays when they use cash, swipe their card, or write a check.
Sales tax
This policy refers to the government's manipulation of the economy through affecting the money supply and interest rates.
Monetary policy
This system of government allows free participation in government; "rule by the man"
Democracies
Under F.D.R., this was the greatest expansion of the federal power when it comes to influence over the economy.
New Deal
All the economic decisions and power is centered in the hands of this under a command economy.
Government
This is the federal government's estimates for spending and revenue for the fiscal year.
Federal Budget
This policy refers to the government's manipulation of the economy through taxing and spending.
Fiscal policy
This system of government limits civic participation, favoring the few or the one in power.
Authoritarian
President Ronald Reagan instituted policies that reduce the role of the government in the economy (Reaganomics) in this era of federalism.
New
A mixed economy combined elements of these three economic systems.
Market, Command, Traditional
These two laws work together, trying to achieve "market equilibrium."
Supply and demand
Medicare, Medicaid, Welfare, and Social Security all fall under this policy.
Fiscal policy
In democracies, this is used to hold political parties accountable.
Opposition
These two programs increased the role of the government in the economy.
New Deal and Great Society
Closely associated with a market economy, this means little to no government interference. As the French would say: "to let do."
Lassiez-faire
The 16th amendment established income tax creating a new source of this for the federal government.
Revenue
Federal Reserve
In authoritarian governments, this democratic principle does not apply, allowing the leaders to get away with wrongdoing.
Rule of law
Some of the primary criticism of the New Deal was that it was socialist experiments, deviating from American this.
Capitalism
An important part of market economies, this tends to push people to continue to innovate, driving competition.
Private property/ownership
When the government spends more money than it takes in from its revenue sources, it is referred to as this.
Budget deficit
These kinds of taxes are more likely to impact people in lower income groups.
Regressive
This 1949 Chinese leader was an authoritarian leader, leading the Cultural Revolution, the violent effort to remove pre-Communist beliefs.
Mao Zedong