Economics Week 14 and 15 Vocab Flashcard

Front

Taxing and spending policies by a government.

Back

Fiscal policy

Front

Actions by the Federal Reserve to manage the money supply.

Back

Monetary policy

Front

A tax where higher income earners pay a larger rate. Example: US Income Tax.

Back

Progressive tax

Front

A tax where everyone pays the same percentage of income or wealth, e.g., property taxes.

Back

Proportional tax

Front

A tax where lower-income individuals pay a higher percentage than higher-income individuals. Examples include sales and gas taxes.

Back

Regressive tax

Front

Services the government must provide, e.g., public safety, education, parks, social security, infrastructure.

Back

entitlements

Front

Payments or assistance from the government to private business and industry.

Back

subsidies

Front

Tax on imports/exports.

Back

tariffs

Front

Goods or services produced abroad and shipped to the U.S.

Back

imports

Front

Goods or services produced in the U.S. and shipped abroad.

Back

exports