Term
|
Definition
Expenditures required by previous commitments |
|
|
Term
|
Definition
| Amounts that Government agencies are expected to spend in a fiscal year |
|
|
Term
|
Definition
| Amount Government agencies are authorized to spend for programs |
|
|
Term
|
Definition
| 12 month period between Oct. 1st and Sept. 30th used by government for accounting purposes |
|
|
Term
|
Definition
| Economic policies aimed at increasing supply of goods |
|
|
Term
|
Definition
| System of banks that acts as a central bank of the U.S. and controls monetary policies |
|
|
Term
|
Definition
| Those who argues government can only control an economy by controlling supply of money |
|
|
Term
Council of Economic Advisors (CEA) |
|
Definition
| Group that works within branches to provide advice on stable money |
|
|
Term
|
Definition
| Spending beyond government income to combat an economic slump |
|
|
Term
|
Definition
| Economic Policies that control and change supply of money |
|
|
Term
|
Definition
| Economic Policies that involve government spending and taxing |
|
|
Term
|
Definition
| Total value of goods and services when the economy is at full capacity |
|
|
Term
|
Definition
| Income available to be spent for goods and services by consumers, businesses, and government |
|
|
Term
|
Definition
| Economic condition which price increases are linked to a decrease in currency value |
|
|
Term
|
Definition
| Period of high unemployment and business failures |
|
|
Term
|
Definition
Government payment to individuals and business failures |
|
|
Term
|
Definition
| Payment the government must make by law |
|
|
Term
|
Definition
| Adding new funds to previous budget |
|
|
Term
|
Definition
| An alternative to the progressive income tax where individuals pay the same percentage regardless of how much they earn |
|
|
Term
|
Definition
Money Paid to the government as a result of purchased goods (like a sales tax) |
|
|
Term
|
Definition
| A tax that is imposed on idividuals regardless of how much they earn, such as a sales tax; similar to a flat tax |
|
|
Term
Consumer Price Index (CPI) |
|
Definition
| A primary measure of inflation determined by the increase in the cost of products compared to a base year |
|
|
Term
Wagner Acts (1935) or National Labor Relations Act |
|
Definition
| A federal law that protects the rights of most workers in the private sector involved in interstate commerce to organize labor unions, to engage in collective bargaining, and to take part in strikes and other forms of concerted activity in support of their demands and prevents employers from discrimination agianst labor leaders |
|
|
Term
|
Definition
| Results when we import more than we export. The trade deficit is not a sign of economic distress. But it is a sign of rising domestic demand and investments |
|
|
Term
|
Definition
| Policy that results in government taking money from one segment of society through tax, and giving it back to groups in need. Like welfair, aid to farmers, etc. |
|
|
Term
|
Definition
| The governments price guarantees for certain farm goods. In order to assist american farmers our government gives price supports for some crops and dairy products. So farmers can gain deficiency payments |
|
|
Term
|
Definition
The purchase or sale of government securities via transaction in the open market |
|
|
Term
| Norris-La Guardia Act (1932) |
|
Definition
| Act that prohibited employers from punishing workers who joined unions and gave labor rights to form unions |
|
|
Term
Gross Domestic Product (GDP) |
|
Definition
| Currently the key economic measure that analyzes an upward or downward trend of the monetary value of all goods and services produced in a quarterly basis |
|
|
Term
Gross National Product (GNP) |
|
Definition
| The total of all goods and services produced in a year |
|
|
Term
Distribution Policy or Distributive Policy |
|
Definition
| Results in the government giving benefits directly to people, groups, farmers, and business. Typical for direct goernment aid for highway construction and education |
|
|
Term
| Congressional Budget office |
|
Definition
Budgeting arm of congress |
|
|
Term
|
Definition
| Federal Funds appropriated by congress for use on local projects |
|
|
Term
|
Definition
| Commities of congress that authorize spending in their review |
|
|
Term
|
Definition
| The rate of intrest charged by the federal reserve when banks borrow money from it |
|
|
Term
Office of Management and Budget (OMB) |
|
Definition
| Budgeting arm of executive offices and prepares budget |
|
|
Term
|
Definition
| How much is expected in taxes and other revanues |
|
|
Term
|
Definition
| Committees of congress responsible for raising revanue with which is used to run government |
|
|
Term
|
Definition
| Committees of congress that authorizes spending in their responsibility |
|
|
Term
|
Definition
| Committee in each house of congress that supervises comprehensive budget |
|
|
Term
|
Definition
| Benefits to which every individual entitled and government cannot deny them |
|
|
Term
|
Definition
Authorized expenditures from annual proportions |
|
|
Term
|
Definition
| Law that promised to balance budget by 2002 |
|
|
Term
|
Definition
| Required a tax cut of expansion of entitlement must be offset by tax increase |
|
|
Term
|
Definition
| System of taxation where by rich pay proportionally higher tax than poor |
|
|
Term
|
Definition
| the total of the nation's debts: debts of local and state and national governments; an indicator of how much public spending is financed by borrowing instead of taxation |
|
|
