| A | B |
|---|
| Mixed economy | A form of capitalism in which there are some regulations imposed by the government which affect the economy |
| Unemployment | rate of people who are out of a job but currently looking for one. |
| Underemployment | percentage of people who are out of a job and either looking for one or who have given up on looking for one |
| TARP | Temporary Asset Relief Program. The major bailout of major companies to prevent a stock market crash and unemployment. |
| Capitalism | the economic system where individuals are not regulated by the government |
| international corporation | a company that has locations in other countries. Can also be called a multinational company. |
| National Labor Resolution | 1935 law that protect the rights of employees and employers, to encourage collective bargaining, and to curtail certain private sector labor and management practices, which can harm the general welfare of workers, businesses and the U.S. economy. |
| Sherman Anti-Trust Act, 1890 | prohibits business activities that limit competition. This was the federal government's first attempt to limit the actions of cartels, trusts, and formations of monopolies. |
| Anti Trust Policy | policy designed to ensure fair competition and prevent monopolies |
| World Trade Organization | an international organization that helps advocate and protect free trade |
| protectionism | the act or belief of shielding the economy from imports. A country practicing this wants to produce all of their own goods. |
| supply-side economics | Theory that increasing the supply of goods and lowering taxes will help the economy grow |
| Keynesian economics | A theory that increased government spending (even though running deficits) will fix the economy |
| fiscal policy | decisions about taxing and spending, made by Congress |
| Federal Reserve system | a board to control monetary policy (money supply and interest rates) created in 1913. A bureaucratic regulatory agency that acts independently of the president. during Wilson's presidency |
| monetarism | ideology that the supply of money is the key to a healthy eocnomy |
| monetary policy | government manipulation of the supply of money |
| laissez-faire | the idea that the government should stay out of business, not regulating the market |
| inflation | a general increase in prices of goods and services |
| collective bargaining | negotiations between employees (and their labor union) and employees to determine acceptable pay and working conditions |
| labor union | organization formed to protect workers in a certain industry or business. Allows employees to bargain and negotiate with employers for better wages or improved working conditions. |
| minimum wage | the lowest amount per hour that an employer can pay an employee. This is set by the US federal government and each state can raise the minimum if they so choose. |
| SEC (Securities and Exchange Commission) | a regulatory agency in the bureaucracy that monitors the buying and selling of stocks. Created after the Black Tuesday Stock Market Crash. |
