Economic Policy Vocabulary

noun the common good or welfare of a community

adjective related to the common good or welfare of a community

• The government's primary focus should be on promoting the commonweal of its citizens.
• It's important for everyone to work together for the common good.
• Let's all pitch in for the greater good of the community.
• The commonweal is like a garden that must be tended to by all members of society.

noun a result or effect of an action or condition; outcome

verb not applicable

adjective not applicable

adverb not applicable

pronoun not applicable

preposition not applicable

conjunction not applicable

interjection not applicable

article not applicable

• The consequence of not following the company's policies could result in termination.
• If you don't study for the test, the consequence will be a low grade.
• Ditching class has consequences, dude.
• Her decision to quit her job had far-reaching consequences on her career.

adjective following as a result or effect; important; significant

• The company faced consequential financial losses due to the economic downturn.
• Skipping class can have some pretty consequential consequences.
• Ditching the party was so not consequential, dude.
• The ripple effect of her decision was consequential, touching every aspect of her life.

verb to act against with equal force or power; to offset

• The company implemented a new policy to countervail the effects of the economic downturn.
• She started exercising regularly to countervail her unhealthy eating habits.
• I need to find a way to countervail the boredom of staying home all day.
• His charisma and charm countervailed his lack of experience in the job interview.

noun a portion or share of something, especially money or food distributed to those in need

verb to distribute in small portions or shares

• The government provides financial assistance to those in need through the dole.
• I heard she's been living off the dole for a while now.
• He's always trying to find ways to dodge the dole and make some quick cash.
• She felt like she was constantly on the dole of other people's generosity.

verb to take away or confiscate (property) from its owner, typically for public use or benefit

• The government has the power to expropriate private property for public use.
• The city council might expropriate that old building for a new park.
• They can't just expropriate my stuff like that!
• The artist was able to expropriate elements from different styles to create a unique masterpiece.

verb showing approval or preference for something

• The new policy seems to be favoring larger corporations over small businesses.
• I think the boss is favoring Sarah for the promotion.
• The referee is totally favoring the home team in this game.
• The scales of justice are always favoring the wealthy and powerful.

noun A set of political goals that seeks to outline how a particular country will interact with other countries in the world.

• The country's foreign policy aims to promote diplomatic relations with other nations.
• The government's foreign policy is all about dealing with other countries.
• When it comes to foreign policy, it's all about playing nice with the other kids on the global playground.
• In the game of international politics, foreign policy is like chess - strategic moves determine success.

noun a person's income that is guaranteed to be provided at regular intervals, typically on an annual basis

• The concept of guaranteed annual income is being discussed as a potential solution to poverty.
• Some people think that guaranteed annual income could help solve financial struggles.
• Guaranteed annual income is like a safety net for those in need.
• Think of guaranteed annual income as a financial cushion that everyone deserves.

verb to force someone to accept or put up with; to bring about by authority or force

• The government imposed strict regulations on the use of pesticides.
• My parents imposed a curfew on me for the weekend.
• I can't believe my boss imposed overtime on us again.
• The weight of responsibility imposed on her shoulders was immense.

noun lack of suitability or fitness; inappropriateness

• The committee decided to avoid any inexpedience by carefully considering all possible outcomes before making a decision.
• It's best to think things through to prevent any inexpedience down the line.
• Let's not be dumb and do something that could cause inexpedience later on.
• The inexpedience of his actions weighed heavily on his conscience.

adjective tending to inhibit or restrain something

• The high cost of living in the city can be inhibitive for many people.
• The price of tickets was inhibitive so we decided not to go to the concert.
• I wanted to buy those shoes but the price tag was just too inhibitive.
• Her fear of failure was inhibitive, preventing her from taking risks and pursuing her dreams.

noun a custom or belief characteristic of a particular locality or region

• Localism is the principle of investing in and supporting local businesses and communities.
• Many people in our town believe in localism and try to shop at small, locally-owned stores.
• I'm all about that localism life - supporting my neighborhood shops and restaurants.
• In a world dominated by big corporations, localism is like a breath of fresh air, focusing on community connections and relationships.

noun a situation in which no progress can be made, typically because of disagreement or deadlock

• The logjam in the legislative process has delayed the passing of important bills.
• There's a logjam in the kitchen sink because someone forgot to clean out the drain.
• The traffic was a total logjam this morning, I was stuck for over an hour!
• The team's lack of communication created a logjam in the project timeline.

noun the practice of exchanging favors, especially in politics, by reciprocal voting for each other's proposed legislation

• The practice of logrolling in politics involves exchanging favors to gain mutual support for legislative actions.
• I heard they were logrolling to get that new bill passed in Congress.
• Politicians are always logrolling to get what they want.
• In a figurative sense, logrolling can also refer to people working together to achieve a common goal.

noun the act of making something less high or less in amount

verb the act of making something less high or less in amount

adjective making something less high or less in amount

• The act of lowering interest rates can stimulate economic growth.
• Lowering the volume on the TV, please.
• I'm always lowering my expectations to avoid disappointment.
• Lowering your guard can make you more vulnerable to attacks.

noun a minimum amount of money that an employer is required by law to pay to an employee for work done

• The government recently announced an increase in the minimum wage to help low-income workers.
• I heard they're raising the minimum wage next month, which is great news for us.
• Dude, did you hear they're bumping up the min wage? Finally!
• In the world of freelancing, your time is your minimum wage - make sure it's worth it.

noun a warning or advisory message

adjective serving to warn or advise

• The monitory letter from the bank reminded him of his overdue payments.
• I received a monitory email from my boss about the upcoming deadline.
• She got a monitory text from her friend warning her about the party.
• The dark clouds in the sky served as a monitory sign of the impending storm.

noun a suspension of activity

• The government imposed a moratorium on new construction projects in the protected wildlife area.
• They decided to put a temporary stop on all new building work in the nature reserve.
• They called a timeout on any new development in the wildlife sanctuary.
• She declared a moratorium on dating until she figured out what she really wanted in a partner.

adjective relating to or establishing a norm, especially of behavior or conduct

• The company's normative policies dictate how employees should behave in the workplace.
• It's just the normative thing to do around here.
• Everyone just follows the normative rules without question.
• In this society, the normative path to success is often predetermined.

noun a tax or burden that is too heavy or excessive

verb to impose too heavy a tax or burden on someone or something

• The government should not overtly overtax its citizens.
• I heard they're planning to really overtax us next year.
• I can't believe they're gonna overtly tax us so much!
• Her workload was already overwhelming, adding more tasks would overtly overtax her.

adjective making or indicative of timely preparation for the future; frugal

• Being provident is important for ensuring financial stability in the long term.
• It's always good to be provident and save some money for a rainy day.
• Don't be reckless with your spending, try to be more provident with your money.
• In life, being provident with your decisions can lead to better outcomes in the future.

noun a company or organization that provides a service to the public, such as electricity, water, or transportation

adjective relating to or provided by a public utility

• The public utility company is responsible for providing essential services to the community.
• The public utility here is pretty reliable, so we rarely experience power outages.
• I heard the public utility rates are going up again, that's such a rip-off.
• In a world where kindness is a public utility, we would all be better off.

verb to reduce or diminish expenses or costs

• The company had to retrench some of its employees due to financial difficulties.
• I heard they're going to retrench a few people from the team.
• Looks like they're going to start retrenching staff to cut costs.
• Sometimes we have to retrench in our personal lives to focus on what truly matters.

noun official permission or approval for an action

verb to penalize or discipline for disobeying a law or rule

• The government decided to impose economic sanctions on the country.
• If you don't follow the rules, you might face sanctions.
• I heard they're gonna put sanctions on that shady business.
• Her silence was a sanction of approval for the plan.

noun a system of providing medical and hospital care for all at a nominal cost by means of government regulation and subsidies

adjective relating to or characterized by socialized medicine

• The debate over socialized medicine continues to be a hot topic among policymakers.
• Some people love the idea of socialized medicine because it means free healthcare for all.
• I heard socialized medicine is the way to go if you don't want to pay for doctor visits.
• Implementing socialized medicine is like putting a band-aid on a broken system.

noun a supreme ruler, especially a monarch

adjective possessing supreme or ultimate power

• The sovereign nation passed a new law to protect its citizens.
• The sovereign ruler made a decree that everyone must follow.
• The sovereign boss called all the shots in the company.
• The artist felt sovereign over their creative process.

noun an organization or group that advocates for a specific cause or issue

• It is important for politicians to disclose any potential conflicts of interest related to special interests.
• Politicians should be upfront about any ties they have to special interests.
• Politicians need to spill the beans on their connections to special interests.
• Like a moth to a flame, politicians are often drawn to the allure of special interests.

noun the quality of being strict, precise, or exacting

• The government implemented new measures to increase the stringency of the regulations.
• They really tightened up the rules, adding more stringency to the system.
• The new policies have cranked up the stringency, making it harder for businesses to operate.
• The stringency of her standards was like a steel trap, catching any mistakes with precision.

noun a compulsory contribution to state revenue, levied by the government on workers' income and business profits, or added to the cost of some goods, services, and transactions

• Taxation is the process of imposing a financial charge on individuals or entities by a government.
• I hate dealing with taxation every year when tax season comes around.
• I can't believe how much they're taxing us this year, it's ridiculous.
• The burden of taxation weighs heavily on small businesses trying to stay afloat.

noun a charge or fee for a service, especially for the use of a road or bridge

verb to charge a fee for the use of a road or bridge

• The toll for using the highway has increased this year.
• I can't believe how much the toll is on this road!
• The toll to get into that club is highway robbery!
• The emotional toll of losing a loved one can be overwhelming.

noun A type of investment fund that buys securities in distressed companies or countries with the goal of profiting from their financial instability.

• The vulture fund purchased distressed debt at a significant discount.
• That vulture fund is making a killing by buying up cheap debt.
• Those vulture funds are like scavengers in the financial world.
• The vulture fund swooped in to take advantage of the struggling company's situation.

noun a portmanteau of 'Street' and 'Exit', often used to refer to the process of leaving a street or area

verb to exit or leave a street or area

• The Strexit referendum was a significant event in the country's history.
• Have you heard about Strexit? It's all over the news.
• Strexit is causing quite a stir among politicians.
• The idea of Strexit has been looming over the economy for months.

noun the right to operate in the coastal waters of a particular country

• Cabotage laws restrict the transportation of goods or passengers within a country to only domestic carriers.
• You can't just hire a foreign company to transport goods within the country due to cabotage regulations.
• They got fined for trying to do cabotage with an international shipping company.
• The cabotage of ideas within the organization led to a lack of innovation.

noun a compound noun formed by combining the noun 'can' with the present participle of the verb 'kick', used to describe the act of delaying or avoiding a decision or action

• The practice of can-kicking in politics often leads to delayed decisions and ineffective governance.
• Stop can-kicking and make a decision already!
• Politicians are experts at can-kicking when it comes to controversial issues.
• Avoiding the problem is just like can-kicking down the road, it will catch up eventually.

noun A term used to refer to the hypothetical British exit from the European Union, similar to 'Brexit'

• The potential economic implications of Lexit are being carefully analyzed by experts.
• Have you heard about Lexit? It's all over the news!
• I'm not sure if Lexit is a good idea, it seems a bit risky.
• The decision to pursue Lexit could be seen as cutting ties with the rest of the world.

noun a type of capitalism where businesses collect and use data from individuals to influence their behavior and maximize profits

• The concept of surveillance capitalism refers to the commodification of personal data for profit.
• Surveillance capitalism is when companies track your online activity to target ads at you.
• Man, surveillance capitalism is getting out of control with all these targeted ads everywhere.
• Surveillance capitalism is like having a digital shadow following you around, collecting information to sell to the highest bidder.

noun a type of social security benefit in the UK that is paid to people who are on a low income or out of work

• The government's new welfare system, Universal Credit, aims to simplify the benefits process.
• Have you heard about Universal Credit? It's supposed to make claiming benefits easier.
• I'm thinking of applying for Universal Credit to help with my finances.
• Universal Credit is like a safety net for those in need during tough times.

noun A proper noun referring to the Affordable Care Act, a healthcare reform law in the United States

• The Affordable Care Act, also known as Obamacare, was signed into law in 2010.
• I signed up for Obamacare last year and it has been really helpful.
• I heard that Obamacare is pretty cool, have you tried it?
• Obamacare is like a safety net for many Americans who cannot afford healthcare.

noun a portmanteau of 'France' and 'exit', referring to the potential withdrawal of France from the European Union

• The possibility of a Frexit has caused concern among European leaders.
• Have you heard about the latest rumors regarding Frexit?
• I can't believe some people actually support Frexit!
• The idea of Frexit looms like a dark cloud over the future of the European Union.

noun money given to political parties for general purposes, not designated for a particular candidate

• The political candidate relied heavily on soft money to fund their campaign.
• The candidate got a lot of soft money from big donors for their campaign.
• The candidate was swimming in soft money for their campaign.
• Soft money can be like a cushion for a political campaign, providing extra support and resources.

noun a macroprudential policy or measure

adjective relating to policies aimed at reducing systemic risk in the financial system

• The central bank implemented macroprudential policies to ensure financial stability.
• The government is looking into some macroprudential measures to prevent another economic crisis.
• I heard they're tightening up on macroprudential stuff to stop banks from taking too many risks.
• Just like a safety net, macroprudential regulations are in place to catch any financial risks before they escalate.

verb a verb is a word that expresses an action or a state of being

• The government is considering abolishing certain outdated laws.
• They're talking about getting rid of some old laws.
• They're thinking about axing those old laws.
• Abolishing the barriers to progress is crucial for the country's development.

verb to give an advantage or benefit to someone or something

• Advantaging certain individuals over others is not fair and goes against the principles of equality.
• She's always advantaging her friends by giving them special treatment.
• Stop advantaging your buddies all the time, it's not cool.
• In the game of life, sometimes advantaging yourself means disadvantaging others.