Textbook: Chapter 15- Econimic Policy Flashcards
0
Q
Rules of property
A
By defining these the government protects incentives that people have to create produce and accumulate wealth
1
Q
Law and order
A
By establishing this the government provides a minimal degree of predictability necessary for social interaction
2
Q
Market competition
A
Government policies aim to promote and maintain this to avoid the markets tendency toward monopoly
3
Q
Tariff policies
A
Nineteenth century policies that encouraged local growth
4
Q
Grants in aid
A
Used to promote desirable behavior
5
Q
Consumer Product Safety Commission
A
Protects employees and consumers
6
Q
Federal Reserve system
A
Controls the availability of money and credit
Interest rate control
7
Q
Tax policies
A
Regressive taxes
Progressive taxes
