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Definition
| Economic system in where individuals and corporations own the means of production and create profits |
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Definition
| Economic system where the government is involved in economic decisions as a regulator, consumer, subsidizer, taxer, employer, and borrower |
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| multinational corporations |
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Definition
| Businesses that operate in many parts of the world and hold vast stock ownership |
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| Securities and Exchange Commission |
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Definition
| Federal agency that oversees the stock market to protect investors from fraud |
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| The legal minimum hourly wage for employers |
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Definition
| Organization of workers intended to engage in collective bargaining |
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| Negotiations between representatives from unions and business managers to determine acceptable pay and conditions |
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| Percentage of the labor force that are unable to find work |
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Definition
| Rise in prices for consumer goods |
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| Measure of inflation that relates the rise in prices over time |
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Definition
| Belief that the economy or market works best if left alone from the government |
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Definition
| Manipulation of the money supply so that the government can control the economy |
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Definition
| Theory that the money supply is important to a nation. They believe that too much cash and credit can cause inflation. |
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Definition
| Main institution in controlling the money supply. |
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Definition
| Management of the federal budget including borrowing, spending, and taxing. Fiscal policy is almost wholly determined by Congress and the President |
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Term
| Keynesian economic theory |
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Definition
| Theory that the government can help weather the economy's ups and downs by spending and borrowing |
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Term
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Definition
| Economic theory that by cutting taxes people will be able to have more incentive to work, spend, and invest |
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Definition
| Economic policy of shielding an economy from imports so they can be protected from foreign competition |
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Definition
| International organization that regulates international trade |
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Definition
| A policy designed to ensure competition and prevent monopoly |
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Term
| Food and Drug Administration |
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Definition
| Federal agency designed to oversee all food and drug products sold in the US |
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Term
| National Labor Relations Act |
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Definition
| A 1935 law or the Wagner Act sets down rules to protect unions and organizers so they can be guaranteed the right to collective bargaining. Also created the National Labor Relations Board to regulate labor-management relations |
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