Government policy that attempts to manage the economy by controlling taxing and spending.
What is fiscal policy
100
Federal spending of revenues.
What is expenditures
100
Executive office responsible for helping the President write the federal budget and monitoring federal spending.
What is office of management and budget
100
A tax for which the percentage of income paid in taxes increases as income increases
What is progressive tax
100
a tax on an imported good
What is tariff
200
Government policy that attempts to manage the economy by controlling the money supply and thus interest rates.
What is monetary policy
200
two major expenditures for the federal governement
What is social services and military
200
a plan for making and spending money
What is a budget
200
A tax for which the percentage of income paid in taxes decreases as income increases
What is regressive tax
200
A nation's overall plan for dealing with other nations
What is foreign policy
300
The country's central banking system, which is responsible for the nation's monetary policy by regulating the supply of money and interest rates
What is federal reserve system
300
A federal program of health insurance for persons 65 years of age and older
What is medicare
300
A resolution binding Congress to a total expenditure level, supposedly the bottom line of all federal spending for all programs.
What is budget resolution
300
A tax in which the average tax rate is the same at all income levels.
What is proportional tax
300
Administers the rules governing trade between its 144 members. Helps producers, importers, and exporters conduct their business and ensure that trade flows smoothly.
What is world trade organization
400
A theory that government should control the money supply to encourage economic growth and restrain inflation.
What is monetarism
400
Revenue losses that result from special exemptions, exclusions, or deductions on federal tax law.
What is tax expenditures
400
An emergency budget extension measure that Congress passes when a full budget law has not been completed by the beginning of the new fiscal year
What is continuing resolutions
400
a "negative income tax" that provides income to very poor individuals in lieu of charging them federal income taxes
What is earned income tax credit
400
An organization that manufactures and markets products in many different countries and has multinational stock ownership and multinational management
What is a multinational corporation
500
Benefits given by the government directly to individuals.
What is transfer payments
500
expenditures that are determined by how many eligible beneficiaries there are for a program or by previous obligations of the government.
What is uncontrollable expenditures
500
The financial resources of the federal government.
What is revenues
500
is a government tax imposed on individuals or entities that varies with the income or profits of the taxpayer.
What is income tax
500
mutual dependency, in which the actions of nations reverberate and affect one another's economic lifelines