The Federal Budget Flashcards
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.
