State Local & Fiscal and Monetary Policy Flashcards
Discount Rate
The interest rate the banks have to pay to borrow from the Fed.
Federal Fund Rate
The rate at which banks can borrow excess reserves from other banks
Interest Rate
The rate banks charge their most credit-worthy customers
Recession
When the economy is not doing well for a considerable amount of time
Inflation
When the economy is moving to fast
Entitlements
The majority or government spending currently goes toward
Fiscal Policy
Type of policy that the government can control
Monetary Policy
Type of policy that the federal reserve can control
Expansionary Policies
Policies that increase spending and reduce taxes
Contractionary Policies
Policies that decrease spending and raise taxes
1802 Ohio Constitution
General Assembly was the main branch of congress/legislature
Key officers other than the governor were appointed not elected
Supreme court required to meet once a year
Ohio economy struggled due to high debt
1851 Ohio Constitution
Mirrors the US Constitution
Judges elected by the people
Major executive officers elected by the people
Debt ceiling
Governor gains the power to veto
Plessy V Ferguson
Segregated public schools
“Separate but equal”
Brown V Board of Education
Integrated Schools
Overturns Plessy V Ferguson
Little Rock 9
9 African American students denied entry to all white highschool
(National guard sent to help the students)
