Flashcards - Federal Government & the Economy

Flashcards - Federal Government & the Economy
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deregulation
Deregulation is the process of removing or reducing state regulations, typically in the economic sphere
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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
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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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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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recession
In economics, a recession is a negative economic growth for two consecutive quarters
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12 cards in set
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recession
In economics, a recession is a negative economic growth for two consecutive quarters
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
Fiscal policy
In economics and political science, fiscal policy is the use of government revenue collection and expenditure to influence the economy
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
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
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
Pork barrel spending
Pork barrel is a metaphor for the appropriation of government spending for localized projects secured solely or primarily to bring money to a representative's district
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
public services
Public service is a service which is provided by government to people living within its jurisdiction, either directly or by financing provision of services

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