Topic 6: Introduction to Economic Policy

Key Points

  1. Understand the difference between monetary and fiscal policy
  2. Learn about the structure of the Federal Reserve System
  3. Understand the dual mandate of the Federal Reserve
  4. Know the major components of federal budget
  5. Understand the federal budget making process
  6. Distinguish between federal deficits and the federal debt
  7. Know the spending components of aggregate demand

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