GSSP 330 Final Exam Review Part IV

Front

The amount by which government spending exceeds tax revenues in a given year

Back

Budget deficit

Front

Government should increase money supply steadily and predictably, matching economic productivity growth

Back

Monetarism

Front

Government should run deficits to stimulate demand when necessary

Back

Keynesianism

Front

Lower taxes and fewer regulations stimulate the economy by increasing incentives to work, save, and invest

Back

Supply-Side Economics

Front

Actively manage certain economic aspects like wages/price controls

Back

Economic Planning

Front

Managing the economy by altering the supply of money and interest rates

Back

Monetary policy

Front

Regulates the money supply, bank deposits, and interest rates to shape economic conditions

Back

Federal Reserve

Front

Required by law and is not subject to annual appropriations

Back

Mandatory Spending

Front

Set by Congress through the appropriations process

Back

Discretionary Spending

Front

Claims for government funds that are legally required, such as Social Security and Medicare

Back

Entitlements