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39 Cards in this Set
- Front
- Back
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Unemployment Rate |
amount of those unemployed |
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Inflation |
Rise in in the general price levels of an economy |
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Consumer Price Index |
Measures change in the price level of a market basket of consumer goods. |
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Monetary Policy |
Form of government regulation in which the nation's money supply and interest rates are controlled |
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Fiscal Policy |
Deliberate use of the national government's taxing and spending policies to maintain economic stability |
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Federal Reserve System |
Central banking system of the United States |
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Demand Side economics |
focus on aggregate demand |
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Supply side economics |
proposes that tax decreases may lead to economic growth |
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Transnational corporations |
incorporated or unincorporated enterprises comprising parent enterprises and their foreign affiliates |
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anti-trust policy |
attempts to make companies act in a competitive manner by breaking up companies that are monopolies, prohibiting mergers that would increase market power |
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NLRA |
to protect the rights of employees and employers, |
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collective bargaining |
process of negotiation between employers and a group of employees aimed at reaching agreements to regulate working conditions |
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right to work laws |
statutes in a number of states in the United States that prohibit union security agreements |
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welfare |
financial support given to people in need |
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entitlements |
government program guaranteeing access to some benefit by members of a specific group |
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Means-test programs |
Programs that require beneficiaries have incomes below specific levels to be eligible for benefits |
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income distrubution |
equality with which income is dealt out among members of a society |
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poverty line |
level of minimum livable income |
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progressive taxes |
takes more from richer income individuals |
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proportional taxes |
takes same % from everyone
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regressive taxes |
takes higher % from those at lower incomes
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EITC |
Refundable tax credit for low to moderate income working individuals. |
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feminization of poverty |
Idea that women represent disproportante percentages of world's poor |
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EPA |
Environmental Protection Agency - purpose of protecting human health and the environment by writing and enforcing regulations |
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NEPA |
environmental law that promotes the enhancement of the environment |
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Clean air act of 1970 |
Law that established national primary and secondary standards for air quality in US |
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Water Pollution Control Act of 72 |
principle law governing pollution control and water quality |
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Endangered Species Act of 73 |
provides for the conservation of species that are endangered or threatened |
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Global Warming |
Increase in global temperatures due to carbon emissions from burning fossil fuels such as coal and oil |
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Superfund |
United States federal law designed to clean up sites contaminated with hazardous substances |
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Medicare |
Federal program established during the Lyndon B. Johnson administration that provides medical care to elderly Social Security recipients |
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Medicaid |
Government program that subsidizes medical care for the poor |
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HMO's |
health maintenance organization |
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Cold War |
state of political and military tension after World War II between powers in the Western Bloc and powers in the Eastern Bloc |
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Terrorism |
use of violence and intimidation in the pursuit of political aims |
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EU |
European Union |
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Interdepdency |
the quality or condition of being interdependent |
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Globalization |
Process of interaction and integration among the people |
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Monetarism |
an economic theory that focuses on the macroeconomic effects of the supply of money and central banking |
