PPD 225 Lecture Notes - Lecture 17: Fiscal Year, Federal Open Market Committee, Flat Tax
11 Aug 2016
School
Department
Course
Professor
Document Summary
4/18/16 cont. collective bargaining process whereby union and management officials establish workplace conditions (look at photo on prezi) Process of managing the money supply (aka m1) The federal reserve board manages the money supply. Physical cash, money you can get to right now. 3 tools of monetary policy open market operations buying and selling of government securities expands or contracting the money in the banking system government can sell securities to reduce money supply for inflation. Use of government budgets/policies to affect the economy. 4 tools of fiscal policy budget tends to be incremental policy document it"s more art than numbers taxes most is individual income taxes. States get revenue from income and sales tax. Cities get their revenue from property taxes transfer payments when money is transferred from money to an individual social security, food stamps once you qualify, you get the money goods/services. Board of governors has 7 members for 14 year terms.
