| |
Economic Policy
Objectives
|
- Explain how and why the American national economy was the
major reason for the defeat of President George Bush in
the 1992 presidential election.
- Discuss the relationship between economic prosperity and
the political fortunes of presidents and their parties.
- Differentiate between fiscal and monetary policy and
define such key terms as deficit, surplus,
Keynesianism, the CEA, monetarism, debt, and supply-side
economics.
- Explain the organization and operation of the Federal
Reserve system, how the FED can affect the national
economy through its various operations, and who, if
anyone, tightly controls FED operations.
- Summarize the various approaches in dealing with the
deficit and define the following important related
terms - real income, bracket creep, and indexing.
- Review the essential facts about the tax burden,
preferences, base, and progressivity.
- Review the various types of suggested tax reforms, such
as the flat tax and consumption tax (VAT--valued added
tax).
- Summarize how the U.S. economy rates in comparison with
other nations on such indices as job creation, general
prosperity, level of debt, deficits, tax burdens, and
income inequality.
|
