Economic Policy Terms

adjective having a plain and unadorned appearance

• The austere design of the building reflected the architect's minimalist style.
• Her austere demeanor made it difficult to approach her for help.
• That party was so austere, there was barely any music or decorations.
• The novel's austere prose conveyed a sense of bleakness and despair.

noun a federal agent or official

adjective relating to a system of government in which power is divided between a central authority and constituent political units

• The federal government passed a new law regulating interstate commerce.
• The federal agency is responsible for overseeing the project.
• I heard the feds are cracking down on illegal activity in the area.
• The company operates like a well-oiled federal machine, with strict regulations and protocols in place.

verb to bring under the control or authority of a federal government

• The government decided to federalize the healthcare system in order to provide more consistent care across the country.
• They're talking about federalizing the education system to make it more fair for everyone.
• I heard they want to federalize the park regulations so they're the same everywhere.
• The company's decision to federalize their policies was seen as a way to streamline operations and improve efficiency.

noun a deliberate reduction in speed or pace

verb to move or act at a slower pace than usual

• It is advisable to go slow when learning a new language to ensure proper understanding of the grammar rules.
• Let's go slow with this project so we don't miss any important details.
• I told him to go slow with his spending, but he just doesn't listen.
• After the accident, she decided to go slow in relationships to avoid getting hurt again.

noun the action or process of imposing something

verb to establish or apply by authority

• The government decided to impose stricter regulations on the banking industry.
• My parents always impose a curfew on me when I go out with friends.
• I can't believe my boss is trying to impose more work on us during the holidays.
• The weight of his guilt seemed to impose itself on his shoulders, making it hard for him to move.

noun a period of time when progress or development is delayed

verb to fall behind in movement, progress, or development

• The lag in the system may be due to a high volume of traffic.
• My internet connection is so slow, there's a lag in loading web pages.
• The game is lagging so much, it's unplayable.
• There was a noticeable lag in her response, indicating she was hesitant to answer.

noun an economic system in which transactions between private parties are free from government intervention such as regulations, privileges, tariffs, and subsidies

• The government's laissez faire approach to regulating the economy has been criticized by some experts.
• The boss has a hands-off, laissez faire attitude when it comes to managing the team.
• I'm all about that laissez faire life - just let things happen on their own.
• Her laissez faire attitude towards relationships often leads to misunderstandings and conflicts.

noun the quality or state of being generous; the quality of giving or spending freely

• The company is known for its liberality in providing benefits to its employees.
• I appreciate your liberality in sharing your snacks with me.
• His liberality with money is what makes him popular among his friends.
• The liberality of her heart knows no bounds, always willing to help those in need.

noun the act of bringing land, industries, or assets under the control of a national government

• The government's decision to pursue the nationalization of the oil industry was met with mixed reactions from the public.
• Have you heard about the nationalization of the telecommunications company? It's causing quite a stir.
• Dude, the nationalization of that company is gonna shake things up big time.
• The artist's nationalization of traditional painting techniques breathed new life into the art world.

noun a noun is a word that represents a person, place, thing, or idea. In this case, 'noninterference' is a noun that refers to the act of not interfering or getting involved in something.

• The principle of noninterference in international affairs is crucial for maintaining peace and stability.
• I prefer to keep a policy of noninterference when it comes to my friends' personal matters.
• Dude, just mind your own business and practice some noninterference.
• Sometimes it's best to practice noninterference and let things unfold naturally.

noun a noun is a word that represents a person, place, thing, or idea. In this case, 'price support' is a noun referring to a government policy or program designed to maintain or increase the market price of a commodity or product.

• The government implemented a policy of price support to stabilize the agricultural market.
• The government is helping farmers by giving them price support for their crops.
• Farmers are getting a boost with some price support from the authorities.
• Price support acts like a safety net for farmers in times of market fluctuations.

noun a person who holds politically conservative views

adjective opposing political or social progress or reform

• The political party was divided between the progressives and the reactionary members.
• She always argues with her dad because he has such a reactionary mindset.
• I can't stand those old-fashioned, reactionary people who refuse to change.
• His reactionary attitude towards new ideas is like trying to stop a moving train with his bare hands.

noun a system or planned way of doing things, especially one imposed from above

• The new government implemented a strict regime to control the country's economy.
• I heard the boss is putting in place a new regime for employee performance reviews.
• The coach's training regime is no joke - we're all feeling the burn!
• Breaking free from the regime of self-doubt was the first step towards personal growth.

adjective A word that describes or gives more information about a noun or pronoun. In this case, 'regressive' describes something that is becoming less advanced or returning to a previous state.

• The new tax policy is considered regressive as it disproportionately affects low-income individuals.
• I heard that the new rules are regressive and will hit us hard in the pocket.
• The boss's decision to cut our bonuses is totally regressive.
• His regressive mindset is holding him back from progressing in his career.

adjective describing or relating to restitution or restoration

• The restitutive measures were implemented to compensate the victims of the fraud.
• They had to pay restitutive damages for the damage caused to the property.
• He had to do some restitutive work to make up for his mistake.
• Her actions were seen as restitutive in repairing the broken trust between them.

noun the act of reducing or cutting back on expenses or costs, especially in a business or organization

• The company had to resort to retrenchment in order to cut costs and stay afloat.
• Many employees were laid off due to retrenchment at the company.
• I heard there's going to be a massive retrenchment round next month.
• In times of crisis, retrenchment may be necessary to survive.

noun a system of government programs designed to provide financial support to people in need, typically the elderly, disabled, or unemployed

• The government provides social security benefits to eligible individuals who have contributed to the system.
• My grandma relies on social security to help pay her bills.
• I hope I have enough credits to qualify for social security when I retire.
• Building a strong network of friends can be like having social security in times of need.

verb gradually become smaller or thinner toward one end

adjective having a gradually decreasing thickness or width

• The doctor recommended a gradual tapering of the medication to avoid any adverse effects.
• I'm slowly tapering off my caffeine intake to see if it helps me sleep better.
• I heard she's tapering down on partying because she wants to focus on her studies.
• The road ahead seemed to be tapering off into the distance, disappearing into the horizon.

noun a large container, typically made of metal or plastic, used for holding liquids such as water, chemicals, or food

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• The company is required to pay the VAT on all sales transactions.
• Don't forget to add the VAT when calculating the total cost.
• I can't believe how much VAT they charge on these products!
• The VAT on his emotions seemed to be increasing as the conversation went on.

noun a street in lower Manhattan, New York City, known for being the financial center of the United States

• Wall Street is known for its bustling financial district in New York City.
• I heard that a lot of big companies are located on Wall Street.
• Some people dream of making it big on the Wall Street trading floor.
• In the world of finance, success on Wall Street is often seen as the ultimate achievement.

adjective relating to or characterized by the preoccupation with the buying of consumer goods

• The rise of consumerist culture has led to an increase in materialistic values.
• She's always shopping, such a consumerist!
• Stop being so consumerist, it's not all about buying stuff.
• His consumerist tendencies are like a bottomless pit, never satisfied with what he has.

noun acronym for 'Most Favored Nation', a status given to a country in international trade agreements

adjective describing the status of a country in international trade agreements

• The Most Favored Nation (MFN) status allows countries to receive equal trade treatment.
• Hey, did you hear about that new MFN trade agreement?
• MFN status is like getting VIP treatment in the trading world.
• Being granted MFN status is like being welcomed into an exclusive club.

noun a person who makes decisions regarding policies, especially in government or business

• The policymaker proposed a new initiative to address climate change.
• The policymaker suggested a new plan to tackle the issue.
• The policymaker came up with a cool idea to fix the problem.
• The policymaker planted the seeds for future change with their proposal.

noun A person who accepts or follows rules set by others

• The country decided to become a rule taker in order to gain access to the single market.
• He doesn't want to be a rule taker, but he knows it's necessary for now.
• Being a rule taker sucks, but it's better than being completely isolated.
• She felt like a rule taker in her own life, always following someone else's guidelines.

noun a blend of the name 'Trump' and 'economics', referring to the economic policies and approach advocated by Donald Trump during his presidency

• Trumponomics is a term used to describe the economic policies implemented by the Trump administration.
• Some people love Trumponomics, while others think it's a disaster.
• Trumponomics is all about making America great again.
• The impact of Trumponomics on the economy can be seen as a double-edged sword.

noun The Trans-Pacific Partnership (TPP) is a trade agreement among twelve Pacific Rim countries.

• The TPP is a trade agreement between several countries in the Asia-Pacific region.
• Have you heard about the TPP and its impact on international trade?
• I'm not sure I understand all the details of the TPP deal.
• The TPP is like a puzzle with many pieces that need to fit together perfectly.

noun a term used to refer to the campaign for Britain to remain in the European Union

• The Bremain campaign is focused on advocating for the UK to remain in the European Union.
• I heard that there's a big Bremain rally happening in London next week.
• Some people just don't get why Bremain is so important for the country.
• The Bremain movement is like a beacon of hope for those who believe in the benefits of EU membership.

noun a political philosophy within the Conservative Party in the United Kingdom that emphasizes paternalism and communitarianism

• Red Toryism is a political philosophy that combines conservative and socialist ideas.
• Some people see red Toryism as a way to bridge the gap between left and right wing politics.
• Red Toryism is like a mixtape of conservative and socialist beliefs.
• In the political landscape, red Toryism is like a blend of red and blue creating a purple hue.

noun max - a maximum amount or value

• The government implemented austerity measures to the austerity max in order to reduce the national debt.
• We're on a strict budget right now, like austerity max levels.
• I'm living that austerity max life until my next paycheck.
• After losing my job, I had to live in austerity max mode to make ends meet.

adjective relating to or advocating policies of austerity, especially drastic ones

• The government's austerian policies aimed to reduce the national debt.
• I heard that the new finance minister is quite austerian.
• Don't be such an austerian, let's loosen up the budget a bit.
• His austerian mindset kept him from enjoying the simple pleasures in life.