Economics

What is fiscal policy?

• the total

• policy used to reduce economic growth, often through decreased spending or higher taxes

• the policy under which the government uses the instruments of taxation, public spending and public borrowing to achieve various objectives of economic policy

• Tax revenue used for services and growth within the country.

What is revenue?

• policy used to reduce economic growth, often through decreased spending or higher taxes

• one in which rate of taxation decreases as the taxpayers income increases. A regressive tax takes a smaller percentage of peoples income the larger their income is.

• refers to the burden of a tax on the person who pays it to the government in the first instance

• Income from the government from all of its sources including income from taxes

What are expenditures?

• spending by public authorities- central government, state government and local bodies- for its own maintenance and also for the meeting of collective needs of the citizens and for promoting their economic and social welfare.

• Tax revenue used for services and growth within the country.

• a fiscal policy used to encourage economic growth, often through increased spending or tax cuts

• a fiscal policy used to reduce economic growth, often through decreased spending or higher taxes

What is consumer spending?

• a fiscal policy used to encourage economic growth, often through increased spending or tax cuts

• the use of governmental authority(rule or law) to control or change some practice in the private sector. Example could be a regulation set limiting the amount of chemicals being dumped into Lake Erie by companies.

• household spending on goods and services

• Tax revenue used for services and growth within the country.

What is the aggregate?

• A tax is called progressive when the rate of taxation increases as the income of the consumer increases. In this tax system, the rate of tax goes on increasing with an increase in income.

• one in which rate of taxation decreases as the taxpayers income increases. A regressive tax takes a smaller percentage of peoples income the larger their income is.

• the total of something

• spending by public authorities- central government, state government and local bodies- for its own maintenance and also for the meeting of collective needs of the citizens and for promoting their economic and social welfare.

What is expansionary policy?

• a fiscal policy used to encourage economic growth, often through increased spending or tax cuts

• a fiscal policy used to reduce economic growth, often through decreased spending or higher taxes

• the use of governmental authority(rule or law) to control or change some practice in the private sector. Example could be a regulation set limiting the amount of chemicals being dumped into Lake Erie by companies.

• household spending on goods and services

What is contractionary policy?

• a fiscal policy used to reduce economic growth, often through decreased spending or higher taxes

• a fiscal policy used to encourage economic growth, often through increased spending or tax cuts

• the total of something

• Tax revenue used for services and growth outside the U.S. (could include things like humanitarian aid)

What are regulations?

• The total of something

• Tax revenue used for services and growth within the country.

• Income from the government from all of its sources including income from taxes

• the use of governmental authority(rule or law) to control or change some practice in the private sector. Example could be a regulation set limiting the amount of chemicals being dumped into Lake Erie by companies.

What is monetary policy?

• When the Fed uses their tools to stabilize currency

• The amount of money in circulation

• If the Fed wants banks to keep more money, they would do THIS to Reserve Requirements

• The amount of $ banks must have in their vaults

What is unemployment?

• A continuous rise in the price of goods and services

• monetary policy that reduces aggregate demand increase discount rate sell bonds increase reserve requirement

• the total of something

• Measures the number of people who are able to work, but do not have a job during a period of time.