Economics

Question 1

Cost

Answer 1

A burden that people believe they must bear if a policy is enacted

Question 2

Benefit

Answer 2

A satisfaction that people believe they will enjoy a policy adopted

Question 3

Majoritarian politics

Answer 3

Policy in which almost everybody benefits and almost everybody pays

Question 4

Interest group politics

Answer 4

A policy in which one small group benefits and another small group pays

Question 5

Client politics

Answer 5

It policy in which one small group benefits and almost everybody pays

Question 6

Porkbarrel legislation

Answer 6

Legislation that gives tangible benefits to constituents in several districts or states in the hopes of winning their votes in return

Question 7

Logrolling

Answer 7

A legislator supports a proposal favored by another in return for support of his or hers

Question 8

Entrepreneurial politics

Answer 8

A policy in which almost everybody benefits and a small group pays the cost

Question 9

Policy entrepreneurs

Answer 9

Activists in or out of government to pull together a political

Question 10

Processed regulation

Answer 10

Rules governing commercial activities designed to improve consumer worker or environmental conditions also called social regulation

Question 11

Deficit

Answer 11

What occurs when the government in one year spends more money than it takes in from taxes

Question 12

National debt

Answer 12

The total deficit from the first presidency down to the president

Question 13

Gross domestic product

Answer 13

The total of all goods and services produced in the economy during a given year

Question 14

Monetarism

Answer 14

The belief that inflation occurs when to much money is chasing too few goods

Question 15

Keynesianism

Answer 15

Theory that in the short run and especially during recessions, economic output is strongly influenced by aggregate demand

Question 16

Economy planning

Answer 16

The belief that government plan such as wage and price controls or the direction of investment can improve the economy

Question 17

Supply-side theory

Answer 17

The belief that lower taxes and fewer regulations will stimulate the economy

Question 18

Reagonomics

Answer 18

The belief that a combination of monetarism low federal spending and supply side economics will stimulate economy

Question 19

Monetary policy

Answer 19

Managing the economy by altering the supply of money and interest rates

Question 20

Fiscal policy

Answer 20

Managing the economy by the use of tax and spending laws

Question 21

Budget

Answer 21

A document that states tax collections spending levels and the allocation of spending among purposes

Question 22

Fiscal year

Answer 22

For the federal government October 1 to the following September 30

Question 23

Budget resolution

Answer 23

I congressional decision that states the maximum amount of money the government should spend

Question 24

Entitlements

Answer 24

A claim for government funds that cannot be changed without violating the rights of the claimant

Question 25

Sequester

Answer 25

Automatic spending cuts

Question 26

Charitable choice

Answer 26

Name given to the four federal laws passed in the late 1990s specifying the conditions under which nonprofit religious organizations could complete minister certain social service delivery and welfare programs

Question 27

What are the major social welfare programs

Answer 27

``` Old age survivors and disability insurance Medicare Assistance or non-contributory programs unemployment insurance Temporary assistance for needy families Supplemental security income Food stamps Medicaid Earned income tax credit ```

Question 28

What is old age survivors and disability insurance

Answer 28

The payments to retired or disabled people and to surviving members of their families. This program popularly called Social Security is paid for by a payroll tax on employers and employees. No means test

Question 29

Medicare

Answer 29

Federal government pays for part of the cost of medical care for retired or disabled people covered by Social Security. Paid for by payroll taxes on employees and employers. No means test

Question 30

Assistance or noncontributory programs unemployment insurance

Answer 30

Weekly payments to workers who have been laid off and cannot find work. Benefits and requirements determined by states paid for by taxes on employers

Question 31

Temporary assistance for needy families

Answer 31

Payments to needy families with children. Replaced the old AFDC program. Partially paid for by the block grants for the federal government and the states. Means test

Question 32

Supplemental security income

Answer 32

Cash payments to H blind or disabled people whose income is below a certain amount. Paid for from general federal revenues. Means test

Question 33

Food stamps

Answer 33

Doctors given to people whose income is below a certain level that can be used to buy food at grocery stores. Paid for out of general federal revenues. Means test

Question 34

Medicaid

Answer 34

Pays medical expenses of persons receiving T ANF or SSI payments. Means test

Question 35

Earned income tax credit

Answer 35

Pays a cash subsidy or tax credit to poor working families. Means test

Question 36

Insurance program

Answer 36

A self financing government program based on contributions that provide benefits to unemployed or retired persons

Question 37

Assisted program

Answer 37

A government program financed by general income taxes that provides benefits to poor citizens without requiring contribution from them

Question 38

Means test

Answer 38

And income qualification program that determines whether one is eligible for benefits under government programs reserved for lower income groups

Question 39

Earned income tax credit

Answer 39

The provision of a 1975 law that entitles working families with children to receive money from the government if their total income is below a certain level. The program was expanded in the early 1990s

Question 40

Service strategy

Answer 40

A policy providing poor people with the education and job training to help lift them out of poverty

Question 41

Income strategy

Answer 41

A policy giving poor people money to help them lift out of poverty

Question 42

Political agenda

Answer 42

Issues that people believe require governmental action