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Economic Policymaking

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7.The legal minimum hourly wage for large employers. (2 Words)
8.The main instrument for making monetary policy in the United States. It was created by Congress in 1913 to regulate the lending practices of banks and thus the money supply. (3 Words)
14.A 1935 law, also known as the Wagner Act, that guarantees workers the right of collective bargaining, sets down rules to protect unions and organizers, and created the National Labor Relations Board to regulate labor-management relations. (4 Words)
16.The rise in prices for consumer goods.
17.As measured by the Bureau of Labor Statistics, the proportion of the labor force actively seeking work but unable to find jobs. (2 Words)
18.An economic system in which the government is deeply involved in economic decisions through its role as regulator, consumer, subsidizer, taxer, employer, and borrower. (2 Words)
19.The principle that government should not meddle in the economy. (2 Words)
20.An economic theory advocated by President Reagan holding that too much income goes to taxes so that too little money is available for purchasing and that the solution is to cut taxes and return purchasing power to consumers. (3 Words)
21.The federal agency formed in 1913 and assigned the task of approving all food products and drugs sold in the United States. All drugs, with the exception of tobacco, must have FDA authorization. (4 Words)
1.An organization of workers intended to engage in collective bargaining. (2 Words)
2.Negotiations between representatives of labor unions and management to determine pay and acceptable working conditions. (2 Words)
3.A policy designed to ensure competition and prevent monopoly, which is the control of a market by one company. (2 Words)
4.The federal agency created during the New Deal that regulates the stock market. (4 Words)
5.International organization that regulates international trade. (3 Words)
6.Based on monetarism, monetary policy is the manipulation of the supply of money in private hands by which the government can control the economy. (2 Words)
8.The policy that describes the impact of the federal budget—taxes, spending, and borrowing—on the economy. Fiscal policy is almost entirely determined by Congress and the president, who are the budget makers. (2 Words)
9.The theory emphasizing that government spending and deficits can help the economy weather its normal ups and downs. Proponents of this theory advocate using the power of government to stimulate the economy when it is lagging. (3 Words)
10.Businesses with vast holding in many countries, some of which have annual budgets exceeding that of many foreign governments. (2 Words)
11.An economic theory holding that the supply of money is the key to a nation’s economic health. Monetarists believe that too much cash and credit in circulation produces inflation.
12.The key measure of inflation that relates the rise in prices over time. (3 Words)
13.Economic policy of shielding an economy from imports.
15.An economic system in which individuals and corporations, not the government, own the principal means of production and seek profits.

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