| A | B |
|---|
| A group that forecasts economic trends | Council of Economic Advisors |
| The theory that the health of an economy depends on what fraction of their incomes people save or spend. | Keynesianism |
| Legislation that authorizes budget ceilings | Congressional Budget Act |
| An organization that provides estimates of tax revenues | Treasury Dept. |
| The theory that voters worry about community and national interests | other-regarding voters |
| The use of the amount of money in bank deposits and the price of money to affect the economy | monetary policy |
| A combination of Monetarism, tax cuts, and domestic budget cutting | Reagonomics |
| The mechanism that regulates the supply and price of money | Federal Reserve System |
| The theory that voters are mostly influenced by their own immediate economic situation | self-regarding voters |
| A budget in which expenditures exceed tax revenues | deficit budget |
| The use of taxes and expenditures to affect the economy | fiscal policy |
| The theory that inflation occurs when there is too much money chasing too few goods | monetarism |
| The theory that gov't should control wages and prices | planning |
| A document that announces how much gov't will collect in taxes and spend in revenues and how those expenditures will be allocated | budget |
| A recommendation for budget ceilings to guide legislative committees in their spending decisions | budget resolution |
| A situation in which the government takes in more money than it spends | budget surplus |
| An economic philosophy that would have the government planning or subsidizing investment in industries that need to recover or new and better industries that could replace them | industrial policy |
| An economic philosophy that assumes that the gov't should plan some part of the country's economic activity | economic planning |
| The period from October 1 to September 30 for which gov't appropriations are made and federal books are kept | fiscal year (FY) |
| Money that some assumed would be freed up for domestic spending by cuts in post-cold war defense spending | peace dividend |
| Gov't regulation of the maximum prices that can be charged and wages that can be paid | price and wage control |
| Automatic, across-the-board cuts in certain federal programs when Congress and the president cannot agree on a spending plan | sequester |
| An economic philosophy that holds that sharply cutting taxes would increase the incentive to invest, leading to more tax revenues | supply-side theory |
