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Policy

Description

Econ 101 Mind Map on Policy, created by mjheg on 04/05/2013.

Mind Map by mjheg, updated more than 1 year ago

	Created by mjheg over 11 years ago

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Resource summary

Policy

Monetary
1. Expansionary
  1. Purchases
    1. - Lower Discount Rate
      1. - Lower Reserve Requirement
    2. T Bills (Short Term Maturity Bills)
2. Contractory
  1. Sales
    1. + Raise Discount Rate
      1. + Raise Reserve Requirement
3. SHORT TERM
4. Quick to implement
Fiscal
1. To influence business cycle
2. LONG TERM
3. Slow to implement
4. Expansionary
  1. Lower taxes
    1. Ricardian Equivalance
      Annotations:
      - When people see that low taxes today may be raised tomorrow, they save tax cut. AD is not effected.
    2. Increase Spending
      1. Dems
        Grows gov't
      2. Response to real shocks
        Annotations:
        Can cause crowding out -There is little gov't can actually do to combat real shock
  2. RECESSION
5. Contractory
  1. Raise Taxes
    1. Reduce Spending
    2. Repubs
      1. private sector
  2. Growth ABOVE Solow Model
6. DOES NOT AFFECT SOLOW GROWTH MODEL!!!!!

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