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Flashcards in The Federal Budget Deck (3)
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0
Q

Fiscal Policy

A

Raising and lowering taxes and government spending programs. Fiscal policy is controlled by the executive and legislative branches.

1
Q

Monetary Policy

A

Monetary policy involves regulating the money supply, controlling inflation, and adjusting interest rates. Monetary policy is controlled by the Federal Reserve Board.

2
Q

Entitlement Program

A

A government-sponsored program that provides mandates benefits to those who meet eligibility requirements. Social Security and Medicare are the governments largest entitlement programs.