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Unformatted text preview: 1. Chair is appointed for four years 2. Cant be fired by president 3. Tax policy a. Consumption versus income b. Vertical (progressive, flat, and regressive) c. Horizontal (loopholes) d. Estate or death taxes 4. Major sources of revenue and major expenditures 5. The budget process 6. Types of policy: distributive, redistributive, and regulatory 7. The policy process 8. Iron triangle and issue network Techniques of monetary control (2 principal techniques) 1. Reserve requirements-the reserves members banks must maintain against their deposits in Federal Reserve Banks. 2. Discount rateinterest rate at which the Federal Reserve lends money to commercial banks Tax Rates 1....
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- Fall '07