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Economic Policy

Definition

Economic policy refers to the set of rules, regulations, and measures implemented by a government to manage and control economic activities within a country. It includes decisions on taxation, trade, spending, and other factors that influence economic growth.

Related terms

Mercantilism: Mercantilism is an economic theory that dominated during this period. It promoted national self-sufficiency through exports while limiting imports through tariffs and subsidies.

Bullionism: Bullionism was an early form of mercantilist theory that emphasized accumulating precious metals (gold and silver) as a measure of wealth and power.

Commercial Revolution: The Commercial Revolution refers to the period of European economic expansion from the 16th to 18th centuries. It involved increased overseas trade, colonization, and growth in urban centers.

"Economic Policy" appears in:

Subjects (4)

  • AP Human Geography

  • AP US Government

  • AP US History

  • AP World History: Modern

Practice Questions (20+)

  • What economic policy did most new monarchs adopt during this period?

  • What economic policy was favored by absolute monarchs during the 16th and 17th centuries?

  • Which economic policy was primarily practiced in Europe during the 17th and 18th centuries?

  • Which theory greatly influenced economic policy during this period by advocating for a nation's wealth being derived from its accumulation of gold and silver?

  • What economic policy did European nations adopt during the 16th to 18th centuries to strengthen their national economies?

  • Which economic policy is most associated with the growth of European nation-states during the 16th and 17th centuries?

  • How did Adam Smith's view of economic policy differ from the principles of mercantilism?

  • How did Adam Smith's ideas in "The Wealth of Nations" shape long-term economic policy?

  • Which economic policy was adopted by many European monarchs during this period to promote domestic industries and increase wealth?

  • Which economic policy maintained its prevalence throughout much of Europe's Early Modern Period despite numerous social and political transformations?

  • Which aspect of economic policy remained relatively unchanged for many European nations during the Enlightenment period?

  • Which term characterizes the economic policy that was used by many colonial powers to exploit their colonies during the period of New Imperialism?

  • What was the economic policy implemented in USSR under Stalin?

  • What was the economic policy implemented by Lenin in response to Russia's economic crisis caused by civil war?

  • What is the term for the economic policy that aims to control inflation by restricting government spending and money supply?

  • How did Benito Mussolini's "What is Fascism" essay affect Italy’s economic policy?

  • Which economic policy did Britain adopt to address unemployment during the Great Depression?

  • What economic policy was largely adopted by countries during this era to boost their economies after World War I?

  • What was the primary economic policy adopted by most Western European countries after World War II?

  • Which British economist's theories influenced many western governments' approach to economic policy during the post-war years?

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About Us

About Fiveable

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Privacy Policy

CCPA Privacy Policy

Resources

Cram Mode

AP Score Calculators

Study Guides

Practice Quizzes

Glossary

Cram Events

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Crisis Text Line

Help Center

© 2024 Fiveable Inc. All rights reserved.

AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.