| A | B |
|---|
| Consumer Price Index (CPI) | primary measure of inflation |
| Discount Rates | interest rate established by the Federal Reserve |
| Distributive Policy | government giving benefits directly to the people, groups, farmers, and businesses. Subsidies, R&D funds, direct gov't aid for highways and education |
| Federal Reserve System | federal body that regulates the money supply; The Fed; centralized bank system |
| Fiscal Policy | managing the economy through taxing and spending |
| Gross Domestic Product (GDP) | the key economic measure that analyzes an upward or downward trend of monetary value of all goods and services produced within a nation |
| Gross National Product (GNP) | total of all goods and services produced in a year (regardless of national borders) |
| Laissez Faire | Hands off government economic policy |
| Norris-LaGuardia Act of 1932 | act prohibiting employers from punishing workers who join unions |
| Price supports | government guarantees a price for certain farm goods |
| Redistributive policy | government takes money from one segment and gives it back to another segment of society; welfare, tax credits to businesses; student loans |
| Regulatory Policy | policy that results in government control over individuals and businesses (environment and consumer protections) |
| Wagner Act | aka teh National Labor Relations Act of 1935; gave workers the right to organize labor unions and engage in collective bargaining |
