-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
This is the end of the preview. Sign up
access the rest of the document.
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.