| A | B |
|---|
| Consumer Price Index (CPI) | a primary measure of inflation determined by the increase in the cost of products compared to a base year. |
| Discount rates | interest levels established by the Federal Reserve that effect the ability of the consumer to borrow money. |
| Distributive policy | results in the government giving benefits directly to people, groups, farmers, and businesses. |
| Federal Reserve System | federal body that regulates the money supply by controlling open-market operations |
| Fiscal policy | policy that determines how the economy is managed as a result of government spending and borrowing and the amount of money collected from taxes. |
| Gross Domestic Product (GDP) | currently the key economic measure that analyzes an upward or downward economic trend of the monetary value of all the goods and services produced within the nation on a quarterly basis. |
| Gross National Product (GNP) | the total of all goods and services produced in a year. |
| Laissez faire | Used to describe an economic philosophy of non-government intervention in economic matters such as regulation of business or establishing tariffs. |
| Norris-LaGuardia Act (1932) | act that prohibited employers from punishing workers who joined unions and gave labor the right to form unions. |
| Price supports | The government subsidizes farmers to not grow certain crops and also buys food directly and stores it, rather than let the oversupply in the market bring the prices down. |
| Redistributive policy | policy that results in the government taking money from one segment of the society through taxes and giving it back to groups in need |
| Regulatory policy | policy that results in government control over individuals and businesses. |
| Wagner Act | also called the National Labor Relations Act of 1935, it gave workers involved in interstate commerce the right to organize labor unions and engage in collective bargaining |
