Chapter 6 definitions:

Fiscal Policy
The taxation and spending decisions of a government.
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Monetary Policy
Central bank and/or government decisions on the rate of interest, the money supply and the exchange rate.
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Supply-side Policies
Policies designed to increase the aggregate supply by improving the efficiency of labour and product markets.
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Reflationary
Of policy measures designed to increase aggregate demand
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Deflationary
Of policy measures designed to reduce aggregate demand
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Discretionary Fiscal Policy
Deliberate changes in government spending and taxation designed to influence aggregate demand.
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Automatic Stabilisers
Forms of government spending and taxation that change automatically to offset fluctuations in economic activity
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Economic Cycle
The tendency for economic activity to fluctuate outside its trend growth rate, moving from a high level of economic activity (boom) to negative economic growth (recession)
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Progressive Tax
A tax that takes a higher percentage from the income of the rich
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Regressive Tax
A tax that takes a greater percentage from the income of the poor
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Recession
A fall in real GDP over a period of six months or more
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Human Capital
Education, training, and experience that a worker, or group of workers, possesses.
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Tariff
A tax on imports
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Quota
A limit of imports
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Occupational immobility of labour
Difficulty in moving from one type of job to another
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Protectionism
The protection of domestic industries from foreign competition
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Voluntary Export Restraint
A limit placed on imports from a country with the agreement of that country's government
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What were the main Nazi propaganda methods?
·canvassing ·technology ·mass suggestion ·scapegoats & themes ·'bread and work'
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What were the main messages of propaganda?
·virtues of stable family life ·Volksgemeinshcaft ·Fuhrerprinzip ·Social Darwinism (supreme race) ·Strength through Work ·Lebensraum ·Anti-Bolshevism ·Anti-Semitism
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What were Hitler's main method of consolidating his power?
·propaganda ·deception (e.g. Day of Potsdam) ·terror ·legality
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What were Hitler's economic aims?
·restore Germany to employment ·create a Wehrwirtschaft (defence economy) ·Autarky (self-sufficient national economy)
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How did Hitler use terror?
·use of the Courts(new laws, tough Nazi judges) ·SS(Himmler, 'state within a state', Death's Head Units) ·Gestapo(political, criminal & uniformed police, dependent on informers) ·Concentration Camps (brutal violence, sources of labour, expanding numb
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Other cards in this set

Card 2

Front

Central bank and/or government decisions on the rate of interest, the money supply and the exchange rate.

Back

Monetary Policy

Card 3

Front

Policies designed to increase the aggregate supply by improving the efficiency of labour and product markets.

Back

Preview of the back of card 3

Card 4

Front

Of policy measures designed to increase aggregate demand

Back

Preview of the back of card 4

Card 5

Front

Of policy measures designed to reduce aggregate demand

Back

Preview of the back of card 5
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