Brooke- social and economic policy

Question 1

Affordable Care act

Answer 1

(ACA) or nicknamed Obamacare, is a United States federal statute enacted by the 111th United States Congress and signed into law by President Barack Obama on March 23, 2010.

Question 2

Agenda setting

Answer 2

describes the “ability [of the news media] to influence the importance placed on the topics of the public agenda”.[1] With agenda setting being a social science theory, it also attempts to make predictions. That is, if a news item is covered frequently and prominently, the audience will regard the issue as more important.

Question 3

Board of Governors

Answer 3

is a federal government agency that is the Fed’s centralized component. The Board consists of seven members who are appointed by the president of the United States and confirmed by the Senate.

Question 4

Budget Deficit

Answer 4

A deficit occurs when the government spends more than it taxes; and a surplus occurs when a government taxes more than it spends.

Question 5

Charter School

Answer 5

a publicly funded independent school established by teachers, parents, or community groups under the terms of a charter with a local or national authority.

Question 6

Common core

Answer 6

a set of educational standards for teaching and testing English and mathematics between kindergarten and 12th grade.

Question 7

Department of Health and Human Services

Answer 7

The United States government’s principal agency for “protecting the health of all Americans and providing essential human services, especially for those who are least able to help themselves.” Also known as DHHS and HHS.

Question 8

Depression

Answer 8

a long and severe recession in an economy or market.

Question 9

discount rate

Answer 9

the minimum interest rate set by the Federal Reserve for lending to other banks.

Question 10

distributive policies

Answer 10

Aimed at ensuring proper distribution of opportunities, goods, services among different sections of society. Meant for specific groups / sections of society.

Question 11

entitlement programs

Answer 11

a government program that guarantees certain benefits to a particular group or segment of the population.

Question 12

federal reserve system

Answer 12

often referred to as the Federal Reserve or simply “the Fed,” is the central bank of the United States. It was created by the Congress to provide the nation with a safer, more flexible, and more stable monetary and financial system.

Question 13

Fiscal policy

Answer 13

the use of government revenue collection and expenditure to influence the economy

Question 14

Governmental institutional agenda

Answer 14

are those problems that legislators or public officials feel.

Question 15

Gross domestic product

Answer 15

the total value of goods produced and services provided in a country during one year.

Question 16

Inflation

Answer 16

a general increase in prices and fall in the purchasing value of money.

Question 17

Keynesian economics

Answer 17

In a capitalist system, people earn money from their work. Businesses employ and pay people to work. Then people can spend their money on things they want.

Question 18

Laissez faire

Answer 18

abstention by governments from interfering in the workings of the free market.

Question 19

Means-tested programs

Answer 19

a method for determining whether someone qualifies for financial assistance to obtain a service or good.

Question 20

Medicaid

Answer 20

a health care program that assists low-income families or individuals in paying for doctor visits, hospital stays, long-term medical, custodial care costs and more.

Question 21

Medicare

Answer 21

is the federal health insurance program for: People who are 65 or older. Certain younger people with disabilities. People with End-Stage Renal Disease (permanent kidney failure requiring dialysis or a transplant, sometimes called ESRD)

Question 22

Monetary policy

Answer 22

the process by which the monetary authority of a country, typically the central bank or currency board, controls either the cost of very short-term borrowing or the monetary base, often targeting an inflation rate or interest rate to ensure price stability and general trust in the currency.

Question 23

National debt

Answer 23

the total amount of money that a country’s government has borrowed, by various means.

Question 24

No child left behind act

Answer 24

It affects what students are taught, the tests they take, the training of their teachers and the way money is spent on education.

Question 25

Non means tested programs

Answer 25

For example, social security is a non means based program because it is given to anyone, regardless of their income, once they hit age for it and made the minimum contribution defined by the law.

Question 26

Open market operations

Answer 26

an activity by a central bank to give liquidity in its currency to a bank or a group of banks.

Question 27

Policy adoption

Answer 27

is the third phase of the policy process in which policies are adopted by government bodies for future implementation.

Question 28

Policy evaluation

Answer 28

applies evaluation principles and methods to examine the content, implementation or impact of a policy. Evaluation is the activity through which we develop an understanding of the merit, worth, and utility of a policy.

Question 29

Policy formulation

Answer 29

is the development of effective and acceptable courses of action for addressing what has been placed on the policy agenda.

Question 30

Policy implementation

Answer 30

he third stage of policy cycle its means the stage of the policy process immediately after the passage of a law, or the action that will be taken to put the law into effect or that the problem will be solved.

Question 31

Public policy

Answer 31

the principle that injury to the public good is a basis for denying the legality of a contract or other transaction.

Question 32

Recession

Answer 32

period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.

Question 33

Redistributive properties

Answer 33

the equalization of property and wealth ownership by direct political fiat. It includes taxation designed to move wealth from one group to another, “land reform” and other means to promote “equality”

Question 34

Regulatory policies

Answer 34

In addition to fiscal and monetary policies, a government affects the economy through regulatory policy, which aims to limit what can be done in the marketplace.

Question 35

Reserve requirements

Answer 35

is a central bank regulation employed by most, but not all, of the world’s central banks, that sets the minimum amount of reserves that must be held by a commercial bank.

Question 36

Social security act

Answer 36

created Social Security in the United States, and is relevant for US labor law. It created a basic right to a pension in old age, and insurance against unemployment.

Question 37

Systematic agenda

Answer 37

all issues that are commonly perceived by members of the political community as meriting public attention and as involving matters within the legitimate jurisdiction of existing governmental authority”.

Question 38

Vouchers

Answer 38

a small printed piece of paper that entitles the holder to a discount or that may be exchanged for goods or services.