About This Chapter
Federal Government & the Economy - Chapter Summary
These video lessons offer information about market and state-controlled economies and how each function. You will examine how economies perform over time and see examples of regulatory policies. Our instructors will also explain ways the government protects the national economy.
Other lessons explore fiscal policy, monetary policy and the Federal Reserve System. You'll see how the national budget is developed, look at national debt and find out how the government spends our money. After completing all the lessons in this chapter, you should be set to:
- Explain the business cycle
- Give examples of regulatory policies
- Define fiscal policy
- Show how the government uses subsidies and taxes
- Describe the process of developing a national budget
- Name some causes of budget deficit
- List some types of government spending and explain what percentage they are of the budget as a whole
Our instructors have designed these brief lessons to be engaging and informative. Most use examples to clarify their teachings, and you can check your knowledge with the quizzes at the end of each lesson. Written transcripts, which highlight key terms in bold, are included as well.
1. Market vs. State-Controlled Economies
This lesson will highlight the differences between a market and a command economy. In doing so, it will explain communism, as well as the concept of a mixed market economy.
2. The Business Cycle: Economic Performance Over Time
Learn the economic terms that describe economic performance over time and how indicators such as unemployment and inflation behave throughout these economic fluctuations.
3. Regulatory Policy: Definition, Processes & Examples
The following lesson covers how the U.S. government uses its regulatory policy to oversee business activities. A short quiz will follow the lesson to check your understanding.
4. How the Government Protects the U.S. Economy
The following lesson will cover the ways in which the government protects the U.S. economy and ensures stable economic growth. A short quiz will follow the lesson to check for your understanding.
5. What is Fiscal Policy?
The following lesson will cover how the U.S. government uses fiscal policy to affect the economy. A short quiz will follow the lesson to check your understanding.
6. How the Government Uses Taxes & Subsidies
This lesson will explain how the government uses tax revenue. It will also discuss the purpose of subsidies, as well as public services and infrastructure.
7. Monetary Policy & The Federal Reserve System
This lesson covers the Federal Reserve System's use of monetary policy to help promote the economy. A short quiz will follow the lesson to check your understanding.
8. What is the National Budget? - Definition, History & Process
The United States budget is probably the most complicated budget created in the United States if not the world. In this lesson, you'll learn about the federal budget, its history, and the budgeting process.
9. What is National Debt? - Definition, Effects & History
National debt is the total amount owed by a government to its creditors. National debt plays a crucial role in a country's financial system. Learn about this and test your knowledge with a quiz.
10. What is a Budget Deficit? - Definition, Causes & History
Budget deficits are an important policy issue facing the United States. In this lesson, you'll learn about what a budget deficit is, its causes and its history in the United History. You'll also have a chance to take a short quiz.
11. What is Pork Barrel Spending? - Definition & Examples
Pork barrel spending is the use of federal government money towards specific projects in order to help congressmen win re-election. We'll discuss why such spending occurs and look at some examples.
12. Federal Budget: Entitlement, Defense & Discretionary Spending
$3.5 trillion is an enormous amount of money, but that's how much the federal government spends each and every year. This lesson sheds some light on just how the government does that.
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Other chapters within the GACE Political Science (532): Practice & Study Guide course
- Political Science Concepts
- Political Thought
- Major Political Thinkers
- Development of the U.S. Political System
- The U.S. Constitution
- The U.S Legislative Branch
- The U.S. Executive Branch
- The U.S. Judicial Branch
- GACE Political Science: U.S. Jurisprudence
- Georgia State Government
- Political Parties & Elections
- Media & Culture in U.S. Politics
- American Federalism
- Rights & Responsibilities of U.S. Citizenship
- Interest Groups & Lobbying
- Crime & Criminal Justice in the U.S.
- U.S. Foreign Policy
- Various Government Structures
- Local Geography & Politics
- International Relations
- Actors in International Relations
- International Law & Politics
- Global Issues in International Relations
- GACE Political Science Flashcards