15-17 Multiple Choice

Question 1

Policy making process

Answer 1

Agenda building
Policy formation
Policy adoption
Policy implementation policy evaluation

Question 2

Spending for health care is about what percent of U.S. Economy

Answer 2

15

Question 3

Gross domestic policy

Answer 3

Dollar value of all final goods and services produced in a year

Question 4

Medicare

Answer 4

A federal health insurance program for people over the age of 65

Question 5

Medicaid

Answer 5

A joint state federal program that provides medical care to poor

Question 6

National health insurance

Answer 6

A plan to provide universal health insurance under which the government provides basic health care coverage to all citizens

Question 7

Single player plan

Answer 7

One entity has a monopoly on issuing a particular type of insurance

Question 8

Income transfer

Answer 8

Transfer of income to one person too other

Question 9

Consumer price index

Answer 9

Average prices of specified set of goods and service that are bought

Question 10

In kind subsidy

Answer 10

Good or a service provided by government for low income

Question 11

Inflation

Answer 11

Rise in general price level of goods ands services

Question 12

Recession

Answer 12

Two or more successive quarters when economy shrinks

Question 13

Laissez faire

Let it be

Answer 13

Government intervention in economy is always misguided and likely to lead to negative results

Question 14

Dual fredalism

Answer 14

State gov has rights to adress problem of unemployment

Question 15

Domestic policy

Answer 15

Public plans or courses of actions that concerns internal issue of national importance: poverty crime enviroment

Question 16

Fiscal policy

Answer 16

The federal government use of taxation and spending policies to affect business activities

Question 17

Keynesian economics

Answer 17

A school of economics thought that tends to favor active federal govt

Question 18

Monetary policies

Answer 18

Change amount of money in circulation to affect and alter credit markets, employment and rate of inflation

Question 19

Imports

Answer 19

Goods service produced outside of country sold within borders

Question 20

Export

Answer 20

Goods and services produced at home and sold outside the country

Question 21

Tariff

Answer 21

Tax on imports

Question 22

Progressive tax

Answer 22

Tax that rises as income rises

Question 23

Regressive tax

Answer 23

Tax that falls in percent as income rises