Chapter 17 Flashcards
Multinational Corporations
Businesses with vast holdings in many countries, some of which have annual budget exceeding that of many foreign government
Labor Union
An Organization of workers intended to engage in collective bargain
National Labor Relations Act
A 1935 law, also known as the Wagner Act,, that guarantees workers the right of collective bargaining, sets down rules to protect unions and organizers and created the National Labor Relations Board to regulate labor-management relations
Food And Drug administration
The Federal agency formed in 1913 and assigned the task of approving all food products and drugs sold in the united states
Anti trust Policy
A policy designed to ensure competition and prevent monopoly, which is the control of a market by one company
World Trade Organizations
International organization the regulates international trade
Protectionism
Economic policy of shielding an economy from imports
Supply side economics
An economic theory advocated by President Reagan holding that too much income goes to taxes so that too little money is available for purchasing and the solution is to cut taxes and return purchasing power to customers
Keynesian economic Theory
The theory emphasizing that government spending and deficits can help the economy weather its normal ups and downs
Fiscal Policy
The policy that describes the impact of the federal budget-taxes, spending, borrowing- on the economy
Federal Reserve System
The Main instrument for making monetary policy in the U.S,
Monetarism
An economic therapy holding that the supply of money is the key to a nations economic health
Monetary Policy
Based on monetarism, this manipulates the supply of money in private hands by which the government can control the economy
Laissez-faire
The principle that government should not meddle in the economy
Consumer Price index
The Key measure of inflation that relates the rise in prices over time
