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D. Tax Policy and the Public Good
1. Standard of Living
2. Redistribution of wealth
a. Supporters
b. Opponents
II. Influencing the Economy
A. Organization of the U.S. Economy
1. Free-Enterprise System
a. Five main rights
b. Benefit
B. Stabilization Goals
1. Economic growth
2. Economic stabilization
a. Full Employment
b. Low Inflation
C. Tools for Economic Stabilization
1. Fiscal Policy
a. To encourage growth
b. To encourage stabilization
2. Monetary Policy
a. Federal Reserve system
1. Decision making bodies
2. Makeup of the system
D. Making Monetary Policy
1. Reserve Requirements
2. Discount Rate
3. Open-Market Operations
E. Monetary versus Fiscal Policy
1. Monetary policy
2. Fiscal policy
F. Economic Policy and the Public Good
1. Keynesianism
2. Monetarianism
H. Industrial Policy and Economic Growth
1. Supporters
2. Opponents
III. The Federal Budget
A. Changes in the Budget Process
1. Budget and Accounting Act of 1921
2. Office of Management and Budget
3. Congressional Budget and Impoundment Control Act
of 1974
B. Preparing the Budget Today
IV. Deficit Spending and the Economy
A. Federal Deficit
B. Budget Deficit and Politics
1. Political Disagreements
2. Uncontrollable Spending
3. Reluctant Public
C. The National Debt
1. The Size of the National Debt
2. Interest Payments on the Debt
3. The Debt and the Economy
D. Balancing the Budget
1. Gramm-Rudman-Hollings Act
2. Balanced Budget Amendment
3. The 1993 Clinton Plan
4. Balanced Budget Act of 1997