Government 1050 Final Exam Review

Government 1050 Final Exam Review - Government 1050 Final...

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-1 Government 1050 Final Exam Review Distinguish Between: Foreign Policy - set of goals that seeks to outline how that particular country will interact with other countries of the world and, to a lesser extent, non-state actors Domestic Policy - counterpart of foreign policy ; it consists of all government policy decisions, programs, and actions that primarily deal with internal matters, as opposed to relations with other nation-states Monetary Policy - How government regulates flow of money in our economy Fiscal Policy - Taxing and revenue Progressive Taxes - increases as pay increases Regressive Taxes - (flat tax) everyone pays the same Define: Recession - downturn in economy Depression - major economic downturn Business Cycle - fluctuations of economic activity about its long term growth trend Inflation - when cost goes up Deficit - spending money you don’t have (like on credit) Deflation - when cost goes down Federal Reserve Bond - 12 banks, people responsible for monetary money, it current chief is Benjamin
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This note was uploaded on 04/15/2008 for the course BIOL 002 taught by Professor Spira during the Fall '07 term at North Texas.

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