Domestic Policy .docx

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Department
Political Science
Course
POL_SC 1100
Professor
Horner
Semester
Fall

Description
Domestic Policy 11/28/12 I. Types of economic systems a. Capitalism  b. Socialism  c. We have a mixed economy  d. Government interference in economy can be a good thing e. We value capitalistic ways, but we also value government looking over it II. Regulation of the economy a. Fiscal policy  i. Deals with government policy (taxing and spending) ii. Congress and the President make these decisions  iii. The government stimulates the economy  1. It can try to use fiscal policy by increasing spending (investing cash into the private sector), cutting taxes  (gives people more money and hopefully they’ll spend that money and put it into the economy) b. Monetary policy  i. Deals with the supply of money available in the economy  ii. The Federal Reserve makes monetary policy iii. 12 member banks in the Federal Reserve system 1. Members of the board are appointed by the president a. Serve 14­year teams 2. The Federal Reserve chair: Ben Bernanke a. 4­year terms b. No term limits 11/30/12
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