chapter 18 economic policy

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dacastro
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190742
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chapter 18 economic policy
Updated:
2012-12-27 22:27:38
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us governments
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vocab
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  1. bussiness cycle
  2. discount rate
    The rate of interest at which member banks can borrow money from their regional Federal Reserve Board.
  3. economic regulation
  4. economic stability
  5. federal reserve board
    A seven-member board that sets member banks’ reserve requirements, controls the discount rate, and makes other economic decisions.
  6. fiscal policy
    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.
  7. gross domestic product
  8. inflation
  9. interventionist state
  10. monetary policy
    A form of government regulation in which the nation’s money supply and interest rates are controlled.
  11. open maket operations
    The buying and selling of government securities by the Federal Reserve Bank in the securities market.
  12. reserve requirements
     Governmental requirements that a portion of member banks’ deposits must be retained to back loans made.
  13. social regulations
  14. Interstate Commerce Commission
    required that railroad rates be just and reasonable.  Also prohibited pooling, rate discrimination, and charging more for longer hauls.
  15. sherman anti trust act
     Section 1 prohibits all restraints of trade, including price-fixing, bid-rigging, and market allocation agreements.  Section 2 prohibits monopolization.
  16. pure food and drug act
    prohibited the mislabeling of foods and drugs.
  17. 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.
  18. 16th ammendments
    authorized the national government to “lay and collect taxes on incomes, from whatever source derived” without being apportioned among the states.
  19. Federal Deposit Insurance Corporation
    insures bank deposits, originally for  $5,000 per account
  20. 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).
  21. national labor relations act
    guaranteed workers’ rights to organize and bargain collectively through unions of their choosing
  22. 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.
  23. federal communications commision
    Was given extensive jurisdiction over the radio, telephone, and telegraph industries.
  24. occupational safety and health act
    Guarantees workers a safe and healthy workplace, but contains no health and safety standards with which workplaces must comply
  25. deregulation
    reduction in market controls
  26. airline degregualtion act
    Completely eliminated economic regulation of commercial airlines over several years
  27. 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.
  28. 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.
  29. 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.
  30. superfunds
    The Comprehensive Environmental Response, Compensation, and Liability Act: provides for the cleanup of abandoned hazardous waste sights 

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