MONETARY POLICY
This entity controls how monetary is implemented in out society.
The Federal Reserve
These are known as the entities that control Fiscal Policy
Congress & The president
This Government Regulation reform body was created during the great depression and was designed to put trust back into the banking system in America. (They Insure money place in the banks)
FDIC
This tax is the leading tax that contributes to government revenue?
Income Taxes
CPI
Consumer Price Index
This term describes the minimum amount of money banks must keep on hand and not lend out.
Reserve Requirements
When a Fiscal Policy budget can NOT be decided on what happens to the government?
Government Shut Down
This type of government-set price establishes a maximum legal price for a good or service.
Price Ceiling
This Tax, also known as a "Sin Tax" is typically implemented in order to incentivize consumers to "not" make purchases on certain items
Excise Tax
MC
Marginal Cost
This is typically the Federal Reserves first act to help combat the Results of CPI data and help influence the economy. Raising or lowering of these...
Interest Rates
What are tools used by governments to implement fiscal policy? (Speed up and Slow down the Economy)
Government spending and taxation
This government agency is responsible for ensuring clean air and water through mandatory regulations.
Environmental Protection Agency (EPA)
This tax is regressive in nature and used to help support local governments, typically placed on goods when consumers make purchases.
Sales Tax
EU
European Union
When the Fed wants to increase the money supply, it might take this action in the open market.
buying government bonds
These three categories account for approximately 66% of federal spending.
Social Security, Medicare/Medicaid, and Defense
This type of intellectual property protection allows entrepreneurs to profit from new ideas and promotes innovation.
Patents
This tax is usually conducted by state and local governments and is imposed on items usually owned by people. ( Car, House, Land, Boat, ETC.)
Property Tax
WTO
World Trade Organization
The Fed might implement this policy to combat high inflation by making borrowing more expensive. (Think about the economic "balloon")
Strict or Tight Monetary policy. (Taking Air out the Balloon)
These are examples of discretionary spending programs that must be approved each year.
agriculture, space exploration, and highways
This economic concept refers to when materials are not protected by intellectual property laws and can be used without permission.
Public Domain
How much someone owes in federal income taxes is typically dependent on what a persons ________ is?
Taxable Income
NAFTA
North American Free Trade Agreement