The rate of interest at which member banks can borrow money from their regional Federal Reserve Board.
federal reserve board
A seven-member board that sets member banks’ reserve requirements, controls the discount rate, and makes other economic decisions.
Federal gov. policies on taxes, spending, and dept management, intended to promote the nation’s macroeconomic goals, particularly with respect to employment, price stability, and growth.
gross domestic product
A form of government regulation in which the nation’s money supply and interest rates are controlled.
open maket operations
The buying and selling of government securities by the Federal Reserve Bank in the securities market.
Governmental requirements that a portion of member banks’ deposits must be retained to back loans made.
Interstate Commerce Commission
required that railroad rates be just and reasonable. Also prohibited pooling, rate discrimination, and charging more for longer hauls.
sherman anti trust act
Section 1 prohibits all restraints of trade, including price-fixing, bid-rigging, and market allocation agreements. Section 2 prohibits monopolization.
pure food and drug act
prohibited the mislabeling of foods and drugs.
clayton anti trust act
prohibited unfair business practices such as price discrimination, exclusive dealing contracts, and corporate mergers that lessened competition. Sought to prevent monopolies and trusts.
authorized the national government to “lay and collect taxes on incomes, from whatever source derived” without being apportioned among the states.
Federal Deposit Insurance Corporation
insures bank deposits, originally for $5,000 per account
Securities and Exchange Commission
independent regulatory commission. It’s authorized to regulate the stock exchanges, to enforce the Securities Act (investors be given full info on stocks or securities being offered to them), and reduce the numb#r of stocks bought on margin (with borrowed money).
national labor relations act
guaranteed workers’ rights to organize and bargain collectively through unions of their choosing
fair labor standards act
set 25 cents an hour and 44 hours a week as initial minimum standards. Also banned child labor. Didn’t protect farmers, domestic workers, fishermen, etc.
federal communications commision
Was given extensive jurisdiction over the radio, telephone, and telegraph industries.
occupational safety and health act
Guarantees workers a safe and healthy workplace, but contains no health and safety standards with which workplaces must comply
reduction in market controls
airline degregualtion act
Completely eliminated economic regulation of commercial airlines over several years
clean air act
Directs the EPA to set standards for motor vehicle emissions, air quality, hazardous air pollutants, and new sources of pollution; to prevent significant deterioration of air quality in clean air areas; to reduce stratospheric ozone depletion; and to control acid rain through emissions trading system.
clean water act
Creates a federal grant program to finance sewage treatment plant construction, authorizes technological standards to reduce water pollution, and establishes programs to control non-point-source pollution, such as runoff from parking lots and livestock feedlots.
national enviroment act
Requires agencies taking actions that will have a major impact on the environment to prepare environmental impact statements (EISs), which are subject to review by the EPA.
The Comprehensive Environmental Response, Compensation, and Liability Act: provides for the cleanup of abandoned hazardous waste sights