POLS 1101 Lecture Notes - Lecture 19: Federal Reserve System, Federal Funds Rate, Unemployment Benefits
11 Apr 2018
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Document Summary
Form of a law, a rule, a regulation, or an order. Monetary policy: government efforts to regulate economy through the manipulation of money and the credit supply. Every national bank must be a member of the federal reserve system and follow national banking rules. Banks borrow from the federal reserve system. The fed controls the federal funds rate. Fiscal policies refer to the government"s use of taxing, monetary, and spending powers to manipulate the economy. Until 1929, most americans believed government should do little in managing the economy. Local governments and private charities handled the care of the poor for much of. Contributory programs: social programs financed by taxation or other mandatory contributions. Social security: contributory program into which workers contribute a portion of their wages for benefits after retirement. Medicare: a form of national health insurance for the elderly and disabled. Unemployment insurance: funded by a combination of federal and state taxes.
