Gov 17.txt

Economic system where indiv. and corps, not the gov't, own the principal means of production and seek profit

Economic system where the gov't is involved in economic decisions a the regulator, consumer, subsidizer, taxer, employer. And borrower

• Businesses with vast holdings in many countries
• Many have budgets that exceed those of foreign gov't

Agency from New Deal the regulates stock fraud

Legal minimum hourly wage for large employers

Organization of workers intended to engage in collective bargaining

Negotiations between labor union reps and management to determine pay and working conditions

• Measured by Bureau of Labor Stats
• Proportion of labor force seeking work but unable to find jobs

Rise in price of consumer goods

Measure of inflation that related the rise in prices over time

Gov't shouldn't meddle in the economy

• Manipulation of the supply of money in banks
• Govt can use to control economy

• A supply of money is the key to a nation's economic health
• Too much cash and credit causes inflation

• Main way to make monetary policy
• Created in 1913 to regulate lending practices of banks and money supply

• Describes the impact of taxes, spending and borrowing on the economy
• Almost entirely determine by Congress and the president

• Govt spending and deficits can help the economy weather ups and downs
• Use power of govt when economy is lagging

• Advocated by president Reagan
• Too much taxing leads to little available money
• Cut taxes and return purchasing power to consumers

Shielding an economy from imports

Regulates international trade

Ensures competition and prevents monopoly

• Formed 1913
• Approves all food products and drugs (except tobacco) sold in US

• 1935 law known as Wagner Act
• Guarantees workers the right to collective bargaining, sets down rules to protect unions, and created the Nat'l Labor Relations Board to regulate labor management regulations