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6 Cards in this Set
- Front
- Back
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Deficit |
The result of when the government in one year spends more money than it takes in from taxes |
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National debt |
The total deficit from the first presidency down to the present |
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Monetarism |
The belief that inflation occurs when you much money is chasing too few goods |
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Keynesianism |
The belief the government must manage the economy by spending more money when in a recession and cutting spending when there is inflation |
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Economic planning |
The belief that government plans, such as wage and price, such as wage and price controls or the direction of investment, can improve the economy |
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Supply-side theory |
The belief that lower taxes and fewer regulations will stimulate the economy |
