Government & Policy

The Check Clearing for the 21st Century Act (Check 21) is a United States federal law that was enacted on October 28, 2003. The law is designed to enable banks to handle more checks electronically, which should make the check-clearing process faster and more efficient. Under the Check 21 Act, banks are not required to … Read more

The term “full employment” is most commonly used in macroeconomic contexts, and refers to the situation in which there are as many jobs available as there are workers seeking employment. In other words, full employment represents a situation in which the economy is operating at or near capacity. There are a number of different ways … Read more

A monopsony is a situation where there is only one buyer in the market. The buyer is typically a large employer who is able to set wages for workers. There are a few key features of a monopsony: 1) The employer has significant market power and can dictate wages. 2) There are few alternative employers, … Read more

A wealth tax is a tax on an individual’s total assets, including property, investments, and savings. The tax is usually based on the value of the assets, so it can fluctuate year to year. A wealth tax can be a controversial topic, with some people arguing that it is a fair way to tax people … Read more

The Office of Foreign Assets Control (OFAC) is a U.S. government agency that administers and enforces economic and trade sanctions based on U.S. foreign policy and national security goals. These sanctions can be imposed on individuals, businesses, and even entire countries. OFAC’s sanctions programs target terrorist activities, weapons of mass destruction proliferation, narcotics trafficking, and … Read more

Usance is a term used in international finance to refer to the time between the date of a bill of exchange or promissory note and the date it is due for payment. The usance period is the time allowed by the drawee for payment of the bill or note, and is determined by the market … Read more

The Troubled Asset Relief Program (TARP) was a financial stability plan created by the U.S. government in 2008 in response to the subprime mortgage crisis. The program provided government funds to banks and other financial institutions in order to encourage them to keep lending and prevent a collapse of the financial system. TARP was controversial, … Read more

. Carried Interest: Who It Benefits and How It Works. Does the carried interest loophole still exist? The carried interest loophole allows private equity and hedge fund managers to pay a lower tax rate on their income than most other workers. The loophole allows these managers to treat their income as capital gains, which are … Read more

The principle of limited government is one of the most important principles of conservatism. It is based on the belief that government should be limited in its power and scope, and that individuals should have the freedom to live their lives as they see fit, without interference from the government. The concept of limited government … Read more

A budget deficit is when the government spends more money than it takes in. The opposite of a budget deficit is a budget surplus. How do you calculate government budget deficit? To calculate the government budget deficit, you need to take the total amount of money that the government spends in a fiscal year and … Read more