key term - Economic Policies

Definition

Economic policies refer to strategies implemented by governments to influence economic activities within their country. These policies can include fiscal policies (such as taxation and spending), monetary policies (such as interest rates), trade policies (such as tariffs), and more.

Related terms

Austerity measures: Austerity measures are economic policies aimed at reducing government spending in order to address budget deficits and reduce public debt.

Fiscal stimulus: Fiscal stimulus refers to measures taken by governments to boost economic activity during times of recession through increased spending or tax cuts.

Free trade agreements: Free trade agreements are agreements between countries that aim to reduce barriers (such as tariffs or quotas) to trade, promoting the exchange of goods and services between nations.