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the various means the government uses to raise and spend money
Fiscal Policy
more income then spending
Surplus
a levy imposed on the assets of one who dies
estate tax
a benefit that federal law says must be paid to all those who meet the eligibility requirements,
Entitlement
the total amount of goods and service produced in a country each year
Gross domestic product
type of tax proportionate to income
progressive tax
the yearly shortfall between revenue and spending
Deficit
a tax on a gift by a living person
gift tax
spending that congress and the President have no power to change directly
A general increase in price
Inflation
a tax imposed on nearly all employer and their employees, and on self-employeed person-the amounts owed by employees withheld from their paychecks
payroll tax
all of the money borrowed by the government and not yet repaid, plus the accrued interest on that money
Public debt
a tax laid on goods brought into the U.S. from abroad, also known as tariffs, import duties, or imposts.
Custom duties
A general decrease in price
Deflation
The money supply and the availability of credit in the economy
Monetary policy
a tax levied at a flat rate, without regard to the level of a taxpayer's income or ability to pay
regressive tax
An absence of growth and the economy shrinks
Recession
a charge from borrowed money
Interest
A major tool with which the Federal Government seeks to achieve its broad economic goals
Fiscal policy
a measure that allows agencies to continue working based on
Continuing resolution
a tax laid on the manufacture, sale, or consumption of goods and/or the performance of service
excise tax
the theory that the higher employment the result from government borrowing will produce higher tax revenues
Demand-side economics
A process that involves the buying or selling of government securities, such as bonds, from and to the national's banks
Open market operations
the assumption that tax cuts increase the supple of many inplrivate hands and stimulate the economy
Supply-side economics
The rate of interest a bank must pay when it barrows money from a Federal Reserve Bank
Discount rate