Flashcards - Economic and Fiscal Policy

Flashcards - Economic and Fiscal Policy
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deregulation
Deregulation is the process of removing or reducing state regulations, typically in the economic sphere
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Fiscal policy
In economics and political science, fiscal policy is the use of government revenue collection and expenditure to influence the economy
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tariffs
A tariff is a tax on imports or exports
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Fair Labor Standards Act
The Fair Labor Standards Act of 1938 is a federal statute of the United States
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recession
In economics, a recession is a negative economic growth for two consecutive quarters
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inflation
In economics, inflation is a sustained increase in the general price level of goods and services in an economy over a period of time
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monopoly
A monopoly exists when a specific person or enterprise is the only supplier of a particular commodity
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15 cards in set
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monopoly
A monopoly exists when a specific person or enterprise is the only supplier of a particular commodity
inflation
In economics, inflation is a sustained increase in the general price level of goods and services in an economy over a period of time
recession
In economics, a recession is a negative economic growth for two consecutive quarters
Fair Labor Standards Act
The Fair Labor Standards Act of 1938 is a federal statute of the United States
tariffs
A tariff is a tax on imports or exports
Fiscal policy
In economics and political science, fiscal policy is the use of government revenue collection and expenditure to influence the economy
deregulation
Deregulation is the process of removing or reducing state regulations, typically in the economic sphere
Federal Trade Commission
The Federal Trade Commission is an independent agency of the United States government, established in 1914 by the Federal Trade Commission Act
price floors
A price floor is a government- or group-imposed price control or limit on how low a price can be charged for a product
Federal Reserve
The Federal Reserve System - also known as the Federal Reserve or simply the Fed - is the central banking system of the United States
interest rate
An interest rate, or rate of interest, is the amount of interest due per period, as a proportion of the amount lent, deposited or borrowed
the business cycle
The business cycle or economic cycle is the downward and upward movement of gross domestic product around its long-term growth trend
tax credit
A tax credit is a tax incentive which allows certain taxpayers to subtract the amount of the credit from the total they owe the state
tax deduction
Tax deduction is a reduction of income that is able to be taxed, and is commonly a result of expenses, particularly those incurred to produce additional income
contraction
A contraction is a shortened version of the written and spoken forms of a word, syllable, or word group, created by omission of internal letters and sounds

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