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Economic Policy
Regulatory Policy
Domestic Policy
Vocabulary
Pot Luck
100
The overall wealth (income and assets of citizens and corporations) that the government can tax to raise revenue.
What is the tax base
100
The ICC and FTC are both examples of this type of regulation.
What is business regulation
100
For this, the general revenues collected by the government pay for the program.
What are noncontributory programs
100
A government's body of diverse policies geared toward promoting the nation's economic health
What is economic policy
100
President who introduced us to supply side economics.
Who is President Reagan.
200
Government expenditures costing more than is raised by taxes, leading to borrowing and debt.
What is deficit spending.
200
The FDA and Pure Food and Drug Act are examples of this type of regulation.
What is social regulation.
200
For this, the benefit is only provided to those who paid the specific tax created to fund the benefit.
What are contributory programs
200
Economic policy set by the government.
What is fiscal policy.
200
The total value of all goods and services produced within a country's borders.
What is GDP.
300
This theory recommends that during a recession the national government should increase its spending and decrease taxes, and during a boom, it should cut spending and increase taxes.
What is Keynesian economics
300
This includes government rules, regulations, and standards directed at protecting competition in the marketplace..
What is business regulation.
300
This is a cash transfer from general revenues to particular persons or private companies engaged in activities that the national government believes support the public good
What is a direct subsidy
300
Economic policy set by the Federal Reserve.
What is Monetary Policy.
300
The most common measure of inflation, it gauges the average change in prices over time of a "market basket" of goods and services including food, shelter, fuels, transportation costs, and selected medical costs.
What is consumer price index (CPI)
400
Government spending and taxing their effect on the economy.
What is Fiscal Policy
400
Government rules and regulations aimed at protecting workers, consumers, and the environment from market failure.
What is social regulation.
400
This benefit for which eligibility is based on having an income below a specified amount, typically based on a percentage of the poverty guideline
What is a means tested benefit
400
An economy in which the government enacts policies to influence the health of the economy. This combines aspects of market, traditional and command economies.
What is a mixed economy.
400
Income that is adjusted for inflation
What is real income
500
This theory advocates cutting taxes and deregulation business to stimulate the economy.
What is supply side economics
500
He is known for his consumer advocacy, wrote a book about unsafe cars rolling off the assembly line, and ignited a consumer safety movement.
Who is Ralph Nader.
500
This is a joint federal-state entitlement program providing health care to people meeting the means test.
What is Medicaid
500
The gap in the proportion of national income held by the richest compared to that held by the poorest.
What is income inequality.
500
An annually updated set of income measures (adjusted for family size) that defines who is living in poverty.
What is the poverty threshold