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Flashcards in Chapter 17 & 18 Deck (49):
0

A public policy such as social security that provides benefits to all groups.

Distributive policy

1

Policy that provides to one group of society while taking away benefits from another through policy tools such as tax increases to pay for job training.

Redistributive policy

2

Policy that takes away exactly as much in benefits as another group gains.

Zero sum game

3

Policy that reduces benefits for all groups such as a tax increase in society.

Counter distributive policy

4

A specific course of action that government takes to address a problem

Public policy

5

The interaction of the people and their government.

Politics

6

A decision not to mover ahead with the policy process. A decision not to decide.

Non decision

7

The list of issues that the federal government pays attention to.

Policy agenda

8

A non gov organization that seeks to influence public policy through research and education.

Think tank

9

The movement if of public opinion toward public policy from initial enthusiasm for action to realization of costs and a decline in interest.

Issue attention cycle

10

Small adjustments to existing public policy

Incremental policy

11

Radical changes to public policy that occur only after the mobilization of large segments of society to demand action.

Punctuating policy

12

A policy making instrument composed of tightly related alliances of congressional committee, interest groups, and fed agency's.

Iron triangle

13

Policy making instrument composed of loosely related interest groups, congressional committee, presidential aids, and other parties.

Issue network

14

Policy that encourages or discourages certain behavior by imposing a legally binding rule.

Regulation

15

A precise statement of how a law is implemented.

Rule

16

Gov policy that attempts to manage economy by controlling taxing and spending.

Fiscal policy

17

Gov policy that attempts to manage economy by controlling money supply and thus interest rates.

Monetary policy

18

A rise in the general price level (and decrease in dollar value) owing to an increase in the volume of money and credit in relation to available goods.

Inflation

19

A combination of an economic slowdown and a rise in prices.

Stagflation

20

The value of all goods and services produced by an economy during a certain period of time.

Gross domestic product

21

A consumer tax on a certain type of merchandise.

Excise tax

22

Condition that exist when the gov raises less revenue than it spends

Budget deficit

23

A tax levied on imports

Tariff

24

Tax graduated so that people with higher income pay a larger fraction that those with lower income.

Progressive tax

25

Tax where people with lower income pay a higher fraction that those with higher incomes

Regressive tax

26

Amount of money the federal gov has borrowed to finance defector spending over the years.

National debt

27

Prez staff agency that serves as a clearing house for budgetary requests and management improvements for government agencies.

Office of management and budget

28

Agency of c grass that analyzes presidential budget recommendations and estimates the cost of proposed legislature.

Congressional budget office

29

A loss of tax revenue die to federal law that provide special tax incentives or benefits to individuals or businesses.

Tax expenditure

30

A tax on increased value of a product at each stage of production and distribution rather than just at the point of sale.

Value added tax

31

The system created by congress in 1913 to establish banking practices and regulate currency in circulation and the amount of credit available.

Federal reserve system

32

The amount of interest banks charge for loans to each other.

Federal funds rate

33

Theory that opposed gov interference in economy.

Laissez faire economics

34

Gov spending should increase during business slumps and be curved during business booms

Keynesian economics.

35

A policy of erecting trade barriers to protect domestic industry.

Protectionism

36

An imbalance in international trade in which the value of imports is greater than exports.

Trade deficit

37

International organization derived from the general agreement. On tariffs and trade that promises free trade around the world.

World trade organization

38

An international trade organization with more that 130 members that seeks to encourage free trade by lowering tariffs and other trade restrictions.

General agreements on tariffs and trade

39

Agreement signed by US, Canada, and Mexico in 1992 to format feat free trade zone in the world.

North American free trade agreement.

40

Federalism that try to prevent monopolies

Anittrust legislation

41

Monopoly that controls goods and services often in combination that reduce competition.

Trust

42

Court order that forbids specific individuals or groups from performing g certain acts that the court considers harmful to the rights and property of an employer or community.

Labor injunction

43

A method where representatives of the I ion and employer determine wages, hours, and other conditions through direct negotiation.

Collective bargaining

44

Company where union membership is condition of employment.

Closed shop

45

Company where new employees must join a union within a stated time period.

Union shop

46

A statement required by federal
Law by an agency for any project using federal funds to asses the potential effect of the new construction on the environment.

Environmental impact statement

47

Efforts by corporations to improve their reputations by paying attention to their contributions to the social good.

Corporate social responsibility

48

Policy promoting cutbacks in the amount of federal regulations in specific areas of economic activity.

Deregulation