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Economic policy refers to a set of government actions aimed at regulating and controlling the economy to achieve specific goals such as promoting economic growth, reducing unemployment, stabilizing prices, and maintaining a balance of trade. These policies encompass a wide range of measures including fiscal policy (government spending and taxation), monetary policy (control of the money supply and interest rates), trade policy (tariffs and trade agreements), and regulatory policies (laws and regulations that govern economic activity). Economic policies are formulated and implemented by government authorities to influence the overall economic conditions of a country or region.