Chapter 15

Question 1

Affordable Care Act

Answer 1

signed by president Obama, allows health care to those who can’t afford it

Question 2

Agenda setting

Answer 2

theory describes the “ability [of the news media] to influence the importance placed on the topics of the public agenda

Question 3

Board of Governors

Answer 3

a federal government agency that is the Fed’s centralized component.

Question 4

Budget deficit

Answer 4

the excess of federal expenditures over federal revenues.

Question 5

Charter school

Answer 5

Receives governmental funding but operates like a private school

Question 6

Common Core

Answer 6

A new set of academic standards set in 2010

Question 7

Department of Health and Human Services

Answer 7

a cabinet-level department of the U.S. federal government with the goal of protecting the health of all Americans and providing essential human services.

Question 8

Depression

Answer 8

a sustained, long-term downturn in economic activity

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

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

the central banking system of the United States of America.

Question 13

Fiscal policy

Answer 13

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

Question 14

Governmental agenda

Answer 14

a list of subjects or problems to which government officials as well as individuals outside the government are paying serious attention

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

various macroeconomic theories about how in the short run – and especially during recessions – economic output is strongly influenced by aggregate demand

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

provide benefits only to poor and lower-income persons.

Question 20

Medicaid

Answer 20

provide free or low-cost health coverage to millions of Americans

Question 21

Medicare

Answer 21

a single-payer national health insurance program in the United States

Question 22

Monetary Policy

Answer 22

the process by which the monetary authority of a country controls either the cost of very short-term borrowing or the monetary base,

Question 23

National Debt

Answer 23

debt, or unpaid borrowed funds, carried by the federal government of the United States

Question 24

No Child Left Behind Act

Answer 24

authorizes several federal education programs that are administered by the states.

Question 25

Non-means-tested-programs

Answer 25

available only to individuals below a poverty line.

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

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

Question 29

Policy formulation

Answer 29

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

the third stage of policy cycle its means the stage of the policy process immediately after the passage of a law

Question 31

Public policy

Answer 31

the principles, often unwritten, on which social laws are based.

Question 32

Recession

Answer 32

a general slowdown in economic activity.

Question 33

Redistributive policies

Answer 33

the transfer of income and of wealth (including physical property) from some individuals to others by means of a social mechanism

Question 34

Regulatory policies

Answer 34

aims to limit what can be done in the marketplace.

Question 35

Reserve requirements

Answer 35

a central bank regulation employed by most, but not all, of the world's central banks

Question 36

Social Security Act

Answer 36

established a system of old-age benefits for workers

Question 37

Systemic agenda

Answer 37

all issues that are commonly perceived by members of the political community

Question 38

Vouchers

Answer 38

money that the government provides to parents to pay their children's tuition in a public or private school